Ircon International advanced 1.74% to Rs 96.60 after the company's consolidated net profit rose 15.74% to Rs 115.40 crore on 4.24% rise in net sales to Rs 1873.35 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax stood at Rs 155.17 crore in Q4 March 2020, declining 31.7% from Rs 227.29 crore reported in the same period last year. Total tax expenses declined 69.4% to Rs 39.09 crore in Q4 March 2020 over Q4 March 2019.
Ircon's order book stood at Rs 30,713 crore as on 31 March 2020. Meanwhile, the company has recommended a final dividend of Rs 2.06 per equity share for the FY20.
Ircon said that there is no significant impact of COVID-19 pandemic on the financial performance of the company in terms of revenue and profitability as ir has recorded its budgeted revenue in the current year.
Ircon International is a Miniratna (Category - I) Schedule A Public Sector Enterprise and a leading turnkey construction company in the public sector. As of 31 March 2020, the Government of India held 89.18% stake in Ircon International.
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