- IRCON's Q1 net profit fell 43.6% to Rs 93 crore despite 9.5% revenue growth
- EBITDA rose 2.9% to Rs 205 crore, but margin dropped to 10.5% from 11.1%
- Domestic revenue increased to Rs 1,913.84 crore, international to Rs 41.99 crore
IRCON International Ltd.'s consolidated net profit fell 43.6% year-on-year to Rs 93 crore in the quarter ended June 30, 2026, even as revenue from operations rose 9.5% to Rs 1,956 crore.
The railway and infrastructure contractor's EBITDA increased 2.9% to Rs 205 crore, but the modest operating-profit growth lagged revenue expansion. As a result, EBITDA margin narrowed to 10.5% from 11.1% a year earlier.
Total consolidated income, including other income, stood at Rs 2,042.73 crore for the quarter, compared with Rs 1,892.38 crore in the year-earlier period, according to the company's filing.
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Domestic operations remained the main contributor, generating revenue from customers of Rs 1,913.84 crore, compared with Rs 1,757.52 crore a year earlier. International customer revenue rose to Rs 41.99 crore from Rs 28.76 crore.
Profit before tax and interest from domestic operations rose to Rs 205.33 crore from Rs 257.10 crore a year earlier, while the international segment contributed Rs 27.02 crore, up from Rs 19.46 crore. Consolidated profit before tax stood at Rs 126.81 crore, against Rs 211.53 crore in Q1 FY26.
The company also flagged developments involving two joint ventures. IRSDC, in which IRCON has a 26% stake, is undergoing voluntary liquidation following a decision by the Ministry of Railways. IRCON said it received an interim payment of Rs 50.96 crore in July 2026 and does not currently perceive any impairment in its investment.
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Separately, toll collection rights of IRCON-Soma Tollway Pvt. Ltd., a 50%-owned joint venture, ceased on May 14, 2026 following expiry of the extended concession period. The highway assets are being handed over to NHAI, with IRCON saying it does not foresee impairment in the investment.
The company's Q1 results were reviewed by the Audit Committee and approved by the board on Aug. 12. The statutory auditors conducted a limited review of the financial results.
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