Ircon International Q2 net jumps over 2-fold to ₹83.50 cr

PTI New Delhi | Updated on November 13, 2018

State-run construction company Ircon International Ltd on Tuesday said its standalone net profit jumped over two-fold to ₹83.57 crore during the quarter ended September 30 this fiscal led by higher revenues.

The company had clocked ₹33.16 crore net profit during the corresponding quarter of the previous fiscal, Ircon said in a statement.

Its revenue from operations during the period stood at ₹962.29 crore, up 33 per cent from ₹723.43 crore in the year-ago period.

Its total expenses during the said quarter were at ₹907.07 crore as against ₹737.45 crore in July-September 2017.

“Faster execution of projects and quick decision making has led to growth in the revenue from operations... The increase has been contributed on all fronts i.e. domestic and international,” Ircon CMD S K Chaudhary said.

Ircon International Ltd is a turnkey construction company having operations in several states in India and countries like Malaysia, Nepal, Bangladesh, South Africa, Algeria and Sri Lanka.

The company has completed more than 127 projects in more than 24 countries across the globe and 380 projects in various states in India.

Published on November 13, 2018

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