Ircon Q1 FY23 profit surges, shares rally 89%
ECONOMY & POLICY

Ircon Q1 FY23 profit surges, shares rally 89%

Ircon International, a subsidiary of Indian Railways, witnessed an impressive share price rally of 89%, reaching Rs 107.6 on BSE, attributed to the firm's substantial 29.6% YoY increase in consolidated net profit to $1.874 billion for Q1 FY23. The company's robust financial performance was reflected in both revenue and order book figures.

In the corresponding quarter of the previous fiscal year, Ircon International had recorded a net profit of $1.446 billion on a topline of $20.019 billion. During the reported period, the infrastructure company achieved a remarkable 35.7% YoY surge in its consolidated revenue from operations, reaching $27.122 billion.

Operating metrics also demonstrated strong growth, with the company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) surging 31.2% YoY to $2.088 billion in the first quarter. Ircon's EBITDA margin for the reporting quarter stood at 7.8%, slightly down from 8% in the corresponding period of the previous fiscal year.

The total order book as of June 30, 2023, amounted to $324.86 billion, with the railway segment accounting for $236.13 billion, the highway segment at $69.06 billion, and other projects at $19.67 billion. The company highlighted its increasing share of orders secured through competitive bidding, which reached 55% of the total order book as of June 30, 2023.

Ircon International, a Miniratna (Category - 1) public sector enterprise, is a prominent turnkey construction company renowned for its expertise in railway and highway projects.

As of 10:14 am, the stock was trading 6.8% higher at Rs 106.5 on BSE. Over the year-to-date period, the stock has surged 80%, displaying an impressive 90% rally over the past six months. Remarkably, the stock has delivered a significant 175% return over the past year.

Technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), further underscore the bullish sentiment surrounding the stock's performance.
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Ircon International, a subsidiary of Indian Railways, witnessed an impressive share price rally of 89%, reaching Rs 107.6 on BSE, attributed to the firm's substantial 29.6% YoY increase in consolidated net profit to $1.874 billion for Q1 FY23. The company's robust financial performance was reflected in both revenue and order book figures.In the corresponding quarter of the previous fiscal year, Ircon International had recorded a net profit of $1.446 billion on a topline of $20.019 billion. During the reported period, the infrastructure company achieved a remarkable 35.7% YoY surge in its consolidated revenue from operations, reaching $27.122 billion.Operating metrics also demonstrated strong growth, with the company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) surging 31.2% YoY to $2.088 billion in the first quarter. Ircon's EBITDA margin for the reporting quarter stood at 7.8%, slightly down from 8% in the corresponding period of the previous fiscal year.The total order book as of June 30, 2023, amounted to $324.86 billion, with the railway segment accounting for $236.13 billion, the highway segment at $69.06 billion, and other projects at $19.67 billion. The company highlighted its increasing share of orders secured through competitive bidding, which reached 55% of the total order book as of June 30, 2023.Ircon International, a Miniratna (Category - 1) public sector enterprise, is a prominent turnkey construction company renowned for its expertise in railway and highway projects.As of 10:14 am, the stock was trading 6.8% higher at Rs 106.5 on BSE. Over the year-to-date period, the stock has surged 80%, displaying an impressive 90% rally over the past six months. Remarkably, the stock has delivered a significant 175% return over the past year.Technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), further underscore the bullish sentiment surrounding the stock's performance.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000