Ircon International’s shares slipped over 3% in morning trade after the company posted a weaker-than-expected performance for the September quarter, leading to selling pressure from investors.
On a consolidated YoY basis, Ircon reported revenue of ₹1,977 crore, down 19.2% from ₹2,448 crore last year. The decline in topline also impacted its operating performance. EBITDA dropped 29.7% to ₹141 crore compared with ₹201 crore in the previous year, while the EBITDA margin contracted to 7.1% from 8.2%.
Profitability took a notable hit as well. Net profit came in at ₹139 crore, a fall of 32.7% compared to ₹206 crore in the same quarter last year.
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