Ircon International Plunges 9.2% as Q3 Profit Nosedives 65%

Ircon International Ltd (IRCN.NS) shares tumbled 9.2% in pre-open trade on Wednesday, February 12, 2025, following disappointing Q3 FY25 results. The state-owned infrastructure company reported a 65% year-on-year decline in net profit to ₹86 crore for the quarter ended December 31, 2024. Revenue also fell 11% to ₹2,613 crore compared to the same period last year. EBITDA dropped to ₹218.3 crore from ₹378.1 crore in Q3FY24, with margins contracting to 8.1%. Despite the weak performance, the board approved an interim dividend of ₹1.65 per share. Analysts advise caution, suggesting a wait-and-watch approach as the stock tests crucial support levels.

Sources: Economic Times, Moneycontrol, Business Today