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NRIPage | Articles | Ircon International Appoints Alin Roy Choudhury as New CFO | Get Business News. Grow and Thrive in the Modern Market around the world - NRI Page
Ircon International Ltd. has announced the appointment of Alin Roy Choudhury as its Chief Financial Officer (CFO) and key managerial personnel, effective January 1, 2025. Choudhury, who is currently the Chief General Manager of the finance division at the company, will succeed B Mugunthan. Mugunthan will be repatriated to the Ministry of Railways on December 31, 2024.
Choudhury, a qualified cost and management accountant, has extensive experience spanning over 30 years in various domains such as business development, treasury, and corporate finance. His international experience includes handling projects in Sri Lanka and Ethiopia. Within Ircon, he has been instrumental in implementing the Indian Accounting Standards and has previously served as CFO for the company’s subsidiaries, including Ircon Gurgaon Rewari Highway Ltd. and Ircon Haridwar Bypass Ltd.
The announcement of Choudhury's appointment comes as Ircon's Q2 fiscal 2025 results reveal a decline in net profit by 17.9%, down to Rs 206 crore, compared to Rs 251 crore during the same period last year. Revenue also fell by 19.3%, totaling Rs 2,448 crore, and the company saw a 23.4% drop in its earnings before interest, tax, depreciation, and amortisation (EBITDA). The company's margins contracted slightly to 8.2% from 8.6% in the previous year.
Following the results, shares of Ircon International Ltd. closed 2.08% lower at Rs 223.80 apiece on the BSE, while the benchmark Sensex saw a milder decline of 0.62%.
