On July 17, 2023, Ircon International Limited’s shares rose 2% in the early morning trade after it commissioned the first phase of the upgradation of the railway line from Maho to Omanthai track restoration project from the Sri Lanka Railways.

At 9:40 am, Ircon International was trading at Rs 81 per share, up 1% from the previous session on the NSE.
Ircon International Limited recently proclaimed Anand Kumar Singh’s appointment as the Director (Projects) from July 7, 2023. He replaced Sandeep Jain, who has walked down from his additional charge as the Director since July 7, 2023.

The company posted a 25% growth in its profit after tax at Rs 248 crore during March, facilitated by higher income, compared to Rs 197 crore net profit during the same quarter last year.

The company’s total revenue slipped 32% during the March quarter, reaching Rs 3,773 crore versus Rs 2,865 crore in the corresponding quarter of the previous year.

The company specialises in implementing projects associated with railway construction, which comprises various aspects such as ballastless tracks, electrification, tunnelling, signal, and telecommunication. Ircon International has a robust presence in the building industry and has effectively completed numerous projects in these areas.