Shares of IRCON International Ltd. declined 2.80% to ₹184.37 on Thursday after the state-run engineering and construction company posted weaker-than-expected financial results for the March quarter. The stock had closed at ₹189.69 in the previous session.
In Q4FY24, IRCON’s consolidated net profit dropped 15% year-on-year to ₹211 crore, compared to ₹247 crore in the same quarter last year. Revenue also fell by 10% YoY to ₹3,412 crore, down from ₹3,787 crore.
Operating performance was under pressure as EBITDA declined by 21.1% to ₹261.4 crore. The EBITDA margin narrowed to 7.7% from 8.7% YoY. The company had previously guided for a full-year revenue between ₹10,000–11,000 crore, which it successfully achieved. However, IRCON’s full-year operating margin stood at 6.75%, aligning with its guidance of a 50 basis points drop from the previous year’s 7.1%.
As of Thursday, IRCON’s market capitalization stood at ₹175.63 billion, with a P/E ratio of 23.01 and a dividend yield of 1.58%.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
