IRCON Ircon International Q3 FY25 results (Oct–Dec 2024) and concall
Ircon reported a subdued third quarter characterized by significant margin compression and execution headwinds as high-margin cost-plus projects like USBRL wind down. The company is transitioning from a nomination-based model to a highly competitive bidding environment, which is expected to keep PAT margins in the 5-5.5% range for the foreseeable future. Management has adopted a cautious outlook, prioritizing volume over margins to ensure survival in a cyclical downturn.
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What they filed
| Line item | Q2 FY25 | Q3 FY25 |
|---|---|---|
| Revenue | 2,448 | 2,613 |
| EBITDA | 201 | 132 |
| Net profit | 206 | 86 |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
