Ircon International shares plunges amid weak Q3 results, net profit declines 65%

Railway Stock, Ircon International's share price dropped 8.8% on Wednesday, hitting a 52-week low at Rs 163.85 per share on BSE with the announcement of Q3FY25 results. The shares were down 8.12% at Rs 165.15 per share on BSE.

The market capitalization of the company stood at Rs 15,532.62 crore. The 52-week high of the stock was at Rs 351.65 per share, and the 52-week low was at Rs 163.85 per share. 

The railway sector PSU has posted a 64.8% decline in net profit year-on-year (Y-o-Y) to Rs 86.1 crore as compared to Rs 244.7 crore. On a quarter-on-quarter (Q-o-Q) basis, the net profit slipped 58.2% from Rs 205.9 crore. 

The company's revenue for the third quarter rose 10.8% to Rs 2,612.9 crore as compared to Rs 2929.5 crore a year ago. However, sequentially, the revenue from operations increased 6.8% from Rs 2,447.5 crore in Q2.

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Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) decreased by 52.9% year-on-year, falling to Rs 139.3 crore from Rs 295.8 crore the previous year. The core EBITDA margin also declined by 480 basis points, dropping to 5.3% compared to 10.1% a year earlier.

According to the filing, Ircon International's order book stood at Rs 21,939 crore as of December 31, 2024, with approximately 53% of the total orders won through competitive bidding. Additionally, the earnings per share (EPS) for the quarter were reported at Rs 0.92 per equity share, based on a face value of Rs 2 per share.

Also, the company declared an interim dividend of Rs 1.65 per equity share on the face value of Rs 2 each for the financial year 2024-25. The record date for payment of Interim Dividend would be Monday, February 17, 2025. 

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