IRCON Q2 Profit Falls 17.8% YoY, Revenue Drops 19.3%

10 Nov 2024 , 08:53 PM

IRCON International Ltd, a leading player in railway construction, reported its financial results for the second quarter post-market hours on Thursday.

The company’s Q2 net profit was recorded at ₹206 crore, showing a 17.8% decline from ₹250.7 crore in the same quarter of the previous year. Despite the YoY decline, Q2 net profit rose compared to the previous quarter, which reported ₹176.51 crore.

IRCON’s revenue for Q2 dropped by 19.3% year-on-year, totaling ₹2,447.5 crore, down from ₹3,033.3 crore in the corresponding quarter last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were ₹201 crore, a 23.3% fall from ₹263 crore in Q2 of the prior year.

The company’s EBITDA margin reduced slightly to 8.2%, down from 8.6% in the previous year. Domestic revenue showed a decrease of 17.8% YoY, amounting to ₹2,206.03 crore. International revenue experienced a sharper decline, falling to ₹92.83 crore, compared to ₹197.67 crore in the same quarter last year.