Rs 32,486 crore order book: Multibagger railways construction stock hits 52-week high on stellar quarterly results (Q1FY24)
The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 12.14 per cent.
On Wednesday, one of the Top Gainers on BSE, shares of Ircon International surged 10.48 per cent to make a new 52-week high of Rs 110.15 per share from its previous closing of Rs 99.70. At the closing bell, shares of the company were trading at Rs 106.50 per share, up 6.82 per cent with a spurt in volume by more than 2.39 times on BSE.
Ircon International Limited, a Miniratna (category - I) schedule A public sector enterprise and a leading turnkey construction company in the public sector (under the Ministry of Railways), has announced its financial results for the first quarter ended on June 30, 2023.
Key Financial Highlights for the quarter results ended June 30, 2023 (Consolidated):
- Total income stands at Rs 2828 crore in Q1FY24 as against Rs 2068 crore in Q1FY23, a jump of 36.7 per cent on YoY.
- Revenue from Operations during the quarter increased by 35.70 per cent to Rs 2,717 crore as against Rs 2002 crore in Q1FY23.
- EBITDA was at Rs.315 crore, an increase of 32.40 per cent as compared to Rs 238 crore in Q1FY23.
- Profit Before Tax increased by 41.10 per cent to Rs 263 crore in Q1FY24 as against Rs 187 crore in Q1FY23.
- Profit After Tax increased by 29.60 per cent to Rs 187 crore in Q1FY24 as against Rs 145 crore in Q1FY23.
- EPS stands at Rs 1.99 per equity share of the face value of Rs 2 per share.
Order Book Update: The total order book as of June 30, 2023 stands at Rs 32,486 crore.
The break-up of which is as follows:
- Railways – Rs 23,613 crore
- Highways – Rs 6,906 crore and
- Others – Rs 1,967 crore.
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IRCON is a PSU company with a market cap of over Rs 10,000 crore. The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 12.14 per cent. Investors should keep an eye on this railway construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.