IRCON International shares in news today post Q4 earnings, dividend announcement

Shares of IRCON International are in news today after the firm said it reported a 15.1 per cent growth in its net profit for March 2024 quarter. Net profit came at Rs 285.68 crore in Q4 against Rs 248.18 crore profit after tax (PAT) during the January-March quarter of the 2022-23 financial year. In FY24, profit after tax climbed 21.5 per cent to Rs 930 crore in FY24 against Rs 765 crore in FY23.

Revenue climbed 0.6 per cent to Rs 3,796.59 crore in Q4 from Rs 3,773.97 crore in the year-ago quarter. Total order book stood at Rs 27,208 crore. The company's board recommended a final dividend of Rs 1.30 per equity share on a face value of Rs 2 per share for FY24.

IRCON International shares ended 5.90% higher at Rs 289.70 on Tuesday against the previous close of Rs 273.55 on BSE. Market cap of the firm rose to 27,246 crore. Total 43.36 lakh shares changed hands amounting to a turnover of Rs 125.88 crore on BSE.

In terms of technicals, the relative strength index (RSI) of IRCON International stood at 74.2, signaling it's trading in the overbought zone. IRCON International stock has a one-year beta of 1.6, signaling very high volatility during the period.

IRCON International shares have rallied 270% in a year and risen 66.26% in 2024.

Ircon International is a railway construction company, which has diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes as well as metro rail works.