Shares of Ircon International hit a new high at Rs 107.60, surging 8 per cent on the BSE in Wednesday’s intra-day trade in an otherwise weak market after the company reported a good set of numbers for June quarter, with a strong order book position. In comparison, the S&P BSE Sensex was down 0.41 per cent at 65,573 at 09:42 AM.
For the April-June quarter (Q1FY24), Ircon reported 29.6 per cent year-on-year (YoY) jump in consolidated profit after tax at Rs 187 crore as against Rs 145 crore in Q1FY24. Revenue from operations grew 32.4 per cent to Rs 2,717 crore from Rs 2,002 crore in a year ago quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, however, stood at 11.15 per cent as against 11.51 per cent in Q1FY23.
