IRCON International rose 3.33% to Rs 93.20 after the company said its subsidiary has refunded loan of about Rs 327 crore.
IRCON International had furnished corporate guarantee to Punjab National Bank for loan to wholly-owned subsidiary, Ircon Davanagere Haveri Highway (IrconDHHL). IrconDHHL has refunded the loan of Rs 326.72 crore to Ircon International.IRCON International is an engineering and construction, specialized in transport infrastructure and is wholly owned by the Ministry of Railways. As on 30 September 2020, the Government of India held 89.18% stake in IRCON International.
On a consolidated basis, the company's net profit rose 1.5% to Rs 84.07 crore on a 15.9% fall in net sales to Rs 1040.41 crore in Q2 FY21 over Q2 FY20.
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