IRCON International Limited has reported a significant increase in its profit after tax (PAT) for the fourth quarter of the fiscal year 2023-24. The state-owned construction giant achieved a PAT of Rs 285.68 crore, marking a 15.1% rise compared to Rs 248.18 crore in the same period of the previous fiscal year, according to a company statement released on Tuesday.
For the full fiscal year 2023-24, Ircon’s PAT saw an impressive 21.5% growth, reaching Rs 930 crore compared to Rs 765 crore in FY’23. This robust financial performance underscores the company’s steady expansion and operational efficiency.
Ircon’s total revenue for the March 2024 quarter increased marginally by 0.6% to Rs 3,796.59 crore, up from Rs 3,773.97 crore in the corresponding quarter of the previous year. The company’s order book as of March 31, 2024, stood strong at Rs 27,208 crore, reflecting its solid market position and future growth prospects.
In light of the positive financial results, Ircon’s board has recommended a final dividend of Rs 1.30 per equity share, based on a face value of Rs 2 per share for FY’24. This move highlights the company’s commitment to providing value to its shareholders.
Ircon International Ltd., known for its expertise in turnkey construction projects, has a diversified portfolio that includes railway construction, ballastless track laying, electrification, tunneling, and signal & telecommunication systems. The company’s sustained growth and profitability are indicative of its strategic prowess and operational excellence in the infrastructure sector.
