IRCON International has secured the work for replacement of mechanical signalling at various locations at Moradabad (Uttar Pradesh) at the expected completion cost of Rs 187.80 crore.
The tenure for execution of the works is 24 months. The work was awarded based on competitive bidding among the public sector undertakings (PSUs) by the Northern Railways, Ministry of Railways. The announcement was made after market hours yesterday, 3 March 2021.
IRCON International is an engineering and construction, specialized in transport infrastructure and is wholly owned by the Ministry of Railways.
On a consolidated basis, the company's consolidated net profit declined by 28.3% to Rs 102.10 crore on a 11.7% rise in net sales to Rs 1353.03 crore in Q3 FY21 over Q3 FY20.
The scrip shed 0.27% to Rs 90.85 on the BSE.
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