IRCON International jumped 2.46% to Rs 456.2 after the company announced strong Q3 December 2019 result after market hours yesterday, 11 February 2020.
On a consolidated basis, the company reported a 52.5% jump in net profit to Rs 142.43 crore in Q3 December 2019 as against Rs 93.39 crore posted in Q3 December 2018. Net sales declined 3.3% to Rs 1210.95 crore in Q3 December 2019 from Rs 1251.72 crore posted in Q3 December 2018.Profit before tax (PBT) for Q3 December 2019 stood at Rs 164.10 crore, rising by 18.2% from Rs 138.79 crore reported in Q3 December 2018.
The company announced an interim dividend of Rs 13.5 per equity share and set record date at 24 February 2020.
Further, the board also approved splitting each share into five (5-for-1 stock split). The expected time for completion of stock split is 30 April 2020.
IRCON International is engaged in the construction of transportation infrastructure. The company's primary charter is the construction of railway projects in India and abroad. The firm has diversified into other transport and infrastructure segments and with its expanded scope of operations.
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