Ircon Reported 35 % Growth in Q3 PAT at Rs 103 Crore

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Mini-ratna public sector enterprise Ircon International on Saturday reported 35 per cent hike in its profit after tax at Rs 103 crore as against Rs 76 crore in Q2 FY21.

Revenue from operations increased to Rs 1,244 crore in Q3 FY21 from Rs 966 crore in Q2 FY21, marking an increase of 29 per cent.

Total income moved up to Rs 1,304 crore from Rs 1,015 crore, up 28 per cent in the same period.

Core earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 85 crore as compared to Rs 66 crore in Q2 FY21, up by 28 per cent while profit before tax went up by 30 per cent to Rs 134 crore as against Rs 104 crore in Q2 FY21.

“Construction activities have been started in full swing and as such there is no shortage of labour or supply chain interruption. We have surpassed the construction activities in Q3 FY21 as compared to last year,” the company said in a statement.

In the current financial year, Ircon secured new orders worth Rs 3,983 crore. In Q3 FY21, IRCON secured orders of Rs 1,623 crore — two orders worth Rs 723 crore for Delhi-Ghaziabad-Meerut regional rapid transit system corridor from National Capital Region Transport Corporation (NCRTC) and an order worth Rs 900 crore for upgradation of Gurgaon-Pataudi-Rewari section in Haryana on hybrid annuity model. As of December 31, 2020, the company’s total order book stood at Rs 32,814 crore — Rs 30,709 crore for railway projects and Rs 2,105 crore for highway projects. Ircon has completed more than 128 projects in 25 countries across the globe and 390 projects in various states across India.

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