Ircon marks 27% growth in Q4 profit at Rs 122 cr, turnover at Rs 1,788 cr

Miniratna public sector enterprise Ircon International has clocked 27 per cent growth in its standalone profit after tax of Rs 122 crore in the fourth quarter ended March (Q4 FY20) against Rs 96 crore in the corresponding period of previous fiscal.

The turnover increased to Rs 1,788 crore from Rs 1,533 crore in Q4 FY19 and total income moved up to Rs 1,831 crore as compared to Rs 1,606 crore, said the turnkey construction company.

Earnings per share increased to Rs 13.02 in Q4 FY20 as compared to Rs 10.16 in Q4 FY19, it said in a statement late on Friday after the closing of market hours.

For the entire fiscal year ended March, the turnover edged nearly 18 per cent higher to Rs 5,202 crore from Rs 4,415 crore in FY19. Similarly, total income increased to Rs 5,442 crore as compared to Rs 4,680 crore, marking a growth of over 16 per cent.

Profit after tax increased by 10 per cent to Rs 490 crore against Rs 445 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) ticked up by 11 per cent to Rs 716 crore against Rs 642 crore.

Earnings per share increased to Rs 52.08 from Rs 47.28 in FY19. By March-end, the company's order book stood at Rs 30,713 crore.

The board of directors has recommended a final dividend of Rs 2.06 per share with a face value of Rs 2 in addition to an interim dividend of Rs 13.45 per share with a face value of Rs 10.

Covid-19 pandemic affected business activities worldwide. However, Ircon International said that there is no significant impact on its financial performance so far in terms of revenue and profitability.

"The company is constantly reviewing its operation and is making every possible effort to make up for the lost time due to the pandemic," it said.