Miniratna CPSE IRCON International net profit up 75% in Q3, dividend declared

The company said in a stock exchange filing that its board of directors has “declared an interim dividend of Rs 1.80 per equity share of face value of Rs 2/- (90% of the paid-up equity share capital)” for the financial year 2022-23. According to the company, the record date for the purpose of payment of interim dividend for the financial year 2022-23 has been fixed as Friday, February 17, 2023. The interim dividend will be paid from Tuesday, February 28, 2023.

On a consolidated basis, the company reported revenue from operations Of 2,346.51 crore in Q3FY23 as compared to Rs. 1,761.85 crore in Q3FY22, representing a growth of 33.18% YoY. The company recorded a net profit of 190 crores in the quarter ending December 2022 as against 135.53 crore in the quarter ending December 2021, representing a YoY growth of 40.19%. IRCON International EPS rises to Rs. 2.02 in Q3FY23 from Rs. 1.44 in the year-ago quarter.

On a standalone basis, the company recorded revenue from operations of 2,236.86 crore in Q3FY23 as against Rs. 1,638.91 crore in Q3FY22, representing a YoY growth of 36.49%. The net profit of the company is Rs. 227.42 crore in the quarter ended December 2022, as compared to Rs. 129.90 crore was recorded in the quarter ending December 2021, representing a YoY growth of 75.07%. IRCON International’s EPS was Rs. 2.42 in Q3FY23 as compared to Rs. 1.38 in the year-ago quarter.

Shares of IRCON International Limited closed today on NSE Closes at 53.65, which is 2.72% lower than its previous close 55.15. The stock has gained 23.05% over the last year while it has declined 9.98% YTD in 2023. The stock has gained 32.31% in last six months but it has declined 13.26% during last month.