IRCON International shares may react as PSU sees revenue drop for sixth straight quarter

Shares of railway PSU IRCON International Ltd. will be reacting to their September quarter results on Thursday, November 13, which were lower on a year-on-year basis across parameters.

IRCON International's revenue declined by 19% from last year to ₹1,976 crore. The company's revenue growth declined for the sixth quarter in a row.

Net profit fell by a third, declining 33.7% from the same quarter last year to ₹136.5 crore from ₹205.9 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 29.6% on a year-on-year basis to ₹141.7 crore from ₹201 crore, while margins narrowed by 100 basis points to 7.2% from 8.2% in the year-ago period.

At the end of the quarter, IRCON's total order book stood at ₹23,865 crore, of which the railways business comprised of orders worth ₹17,952 crore, highways comprised of ₹4,605 crore, while ₹1,308 crore belonged to other business.

Three analysts have coverage on IRCON International, of which one has a "hold" rating and the other two have a "sell" recommendation.

Shares of IRCON International had ended 1.1% higher on Wednesday at ₹166.2. The stock is down 4% in the last one month and 24% so far in 2025. From its all-time high level of ₹351, which it had it in July 2024, the stock is down 52%.