IRCON Q2FY23 Operating Revenue up by 47% YoY at Rs. 2,239 Crore; PAT jumps 38% YoY at Rs.174 Crore

Key Financial Highlights for the Quarter ended30th September 2022 (Consolidated): 

• Total Income increased to Rs.2,306 Crore as against Rs.1,583Crore in Q2FY22. 
• Revenue from operations increased to Rs.2,239 Crore as against Rs.1,523 Crore in Q2FY22. 
• Core EBITDA increased to Rs.214 Crore as compared to Rs.149 Crore in Q2FY22. 
• PAT stands atRs.174 Crore as compared to Rs.126 Crore in Q2FY22. 
• EPS stood at Rs.1.85per Equity share in Q2FY23 on the face value of Rs.2 /share. 

Order Book: 

As of 30^th September 2022, the total order book stands at Rs.40,020Crore. The break-up is which is as follows: 

Railways: Rs.30,712 Crore

Highways: Rs.7,339Crore

 Others: Rs. 1,969 Crore 

Financial Performance: 

The Board of Directors of Ircon International Limited (NSE: IRCON | BSE: 541956), at its meeting today, approved the results for the quarter and half year ended 30th September 2022. 

Q2FY23 – Consolidated (Rs. Crore) 

 Q2FY23– Standalone (Rs. Crore) 

Industry Outlook/Way forward: 

India is a major market with a growing need for more sophisticated and more sustainable structures. The government’s continued focus on infrastructure development and increased spending have been beneficial for the whole industry though headwinds arising out of rising cost pressure and inflationary impacts could have some volatilities. Significant growth in infrastructure is expected. 

The scope for development across the sector is huge, given the substantial number of ongoing and proposed projects.

 The current scenario, therefore, presents a competitive landscape for the company to buckle up and take the opportunities to grow the business and continue to create value for its stakeholders.