Shares of IRCON International Ltd surged 3% on 21 May after the company announced receiving a contract worth Rs 253.56 crore from South Western Railway. 

The order covers the installation, testing, and commissioning of KAVACH equipment.

In its regulatory filing, the company said, “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [“SEBI (LODR) Regulations”], it is to inform that South Western Railway, Indian Railway has awarded the work to Ircon International Limited for survey, design, supply, installation, testing and commissioning of KAVACH equipment and other associated works over 778 RKM of Bengaluru and Mysuru Divisions of South Western Railway.”

In addition, on 21 May, the Navratna public sector organization (PSU) will report its quarterly earnings for the fourth quarter of fiscal year 2024-25. 

The filing added, “Hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 21 May, 2025 to, inter-alia, consider & approve the Audited Financial Results (Standalone & Consolidated) for the quarter and year ended on 31 March, 2025.”

The public-sector turnkey construction company’s net profit fell 65% year on year to Rs 86 crore in Q3 FY25, compared to Rs 245 crore in the same period last year. 

Its operating revenue declined 11% year on year to Rs 2,613 crore in the third quarter of fiscal year 2024-25. It was Rs 2,929 crore in the same time of the previous fiscal year.

At 1:50 pm, the shares of IRCON International were trading 0.16% higher at Rs 188.60 on NSE.

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