Ircon International Upgrades Railway Line in Sri Lanka, Shares Surge 2%

17 Jul 2023 , 01:44 PM

Ircon International Limited witnessed a 2 % increase in share price as the company announced significant developments. 

Ircon International Limited has successfully commissioned the first phase of the upgradation of the railway line from Maho to Omanthai track rehabilitation project in Sri Lanka. This project, executed in collaboration with Sri Lanka Railways, aims to enhance the efficiency and reliability of the railway infrastructure.

Appointment of New Director: Anand Kumar Singh has been appointed as the Director (Projects) of Ircon International Limited, effective from July 7, 2023. Singh’s tenure will continue until 2025 or until further orders. He replaces Sandeep Jain, who stepped down from his additional charge as the Director (Projects) on the same date.

Revenue Growth as per data: Ircon International Limited reported a remarkable 32 % increase approximately in total revenue during the March quarter. The revenue surged to Rs 3,773 crore compared to Rs 2,865 crore in the corresponding quarter of the previous year, showcasing the company’s strong financial performance.

Ircon International Limited specializes in executing railway construction projects, covering various aspects such as ballastless tracks, electrification, tunneling, signaling, and telecommunication. With a strong presence in the construction industry, Ircon International has successfully completed numerous projects in these areas, showcasing its expertise and track record of excellence.

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