Ircon International reports 8.3 pct decline to Rs 103 cr in Dec quarter

State-run engineering and construction firm Ircon International Ltd Thursday said its standalone net profit fell by 8.36 per cent to Rs 102.77 crore during the quarter ended December 31, 2018, on account of higher expenses. The company had clocked Rs 112.15-crore net profit during the same quarter a year ago, Ircon said in a BSE filing. Total income of the company rose to Rs 1,255.65 crore from Rs 963.77 crore in the December quarter of 2017.

During the October-December quarter of 2018, its total expenses stood at Rs 1,108.17 crore, higher from Rs 804.76 crore in the corresponding quarter of the previous fiscal. Ircon International Ltd (Ircon), under the Ministry of Railways, is a leading turnkey construction company having a presence in several states of India and countries like Malaysia, Nepal, Mozambique, Ethiopia, Afghanistan, the United Kingdom (UK), Algeria and Sri Lanka. Shares of the company closed at Rs 389.75, up 1.25 per cent on BSE.