IRCON International is down after 4 days of consecutive gains. It opened over 2.5% lower at Rs.416.45, going down almost 4% to an intra day low at Rs.401.10.

The market is very disappointed with the company’s performance for Q4FY19 with a 56% (YoY) drop in net profit at Rs.95 crore on a 2% rise in total income at Rs.1606 crore.

A PSU under the Railway Ministry, it is a turnkey construction company having presence in several states of India and countries like Malaysia, Nepal, Mozambique, Ethiopia, Afghanistan, the United Kingdom (UK), Algeria and Sri Lanka.