IRCON International gains after bagging two contracts from Northeast Frontier Railway

IRCON International added 1.66% to Rs 210.85 after the company announced that it has secured two new contracts from the Northeast Frontier Railway valued at a combined Rs 89 crore.

The first project, worth approximately Rs 39 crore, involves outsourcing the maintenance and breakdown attention work for nine overhead electrification (OHE) depots and associated passenger safety integration (PSI) assets in the Tinsukia Division.

The second project, valued at approximately Rs 50 crore, entails similar maintenance and breakdown services for 11 OHE depots and PSI assets within the Lumding Division of Northeast Frontier Railway.

The contract execution period is 24 months.

Ircon International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.

The companys consolidated net profit decline 17.90% to Rs 205.9 crore in Q2 FY25 as against Rs 250.8 crore posted in Q2 FY24. Revenue from operations slipped 19.31% to Rs 2,447.52 crore during the quarter as compared with Rs 3,033.27 crore posted in corresponding quarter last year.

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