IRCON net profit declines by 19.41% to Rs 391.06 crore in FY’21

New Delhi: Ircon International Limited (IRCON), a Miniratna PSU and a leading turnkey construction company under the Ministry of Railways has announced its financial results for the fourth quarter (Q4 FY'21) and financial year ended on March 31, 2021. The performance of the company was adversely affected in the first half of FY21. Despite the unprecedented situation, the company performed very well in Q4 FY'21.

Financial highlights for Q4 FY'21 (Standalone)

During the period the total income of IRCON increased by 82 percent to Rs 2,367.78 crore as against Rs 1,303.89 crore in third quarter (Q3 FY21). The revenue from operations have increased by 82 percent to Rs 2,260.39 crore as against Rs 1,244.46 crore in Q3 FY21. The core EBITDA registered a growth of 109 percent and reported at Rs 176.68 crore as compared to Rs 84.51 crore in Q3 FY21. The net profit of the company (PAT) was at Rs 185.33 crore as against Rs 103.14 crore in Q3 FY21.

Financial highlights for FY’21

For the full year, the net profit of IRCON declined 19.41 percent to Rs 391.06 crore in the year ended March 31, 2021, as against Rs 485.27 crore during the previous year ended March 31. 2020. Sales declined 0.91 percent to Rs 5341.96 crore in the year ended March 2021 as against Rs 5391.11 crore during the previous year ended March 2020.

Order book

As of March 31, 2021, IRCON has a strong order book of Rs 34,689 crore. The company had secured major orders worth Rs Rs.32,916 crore for railways projects and Rs 1,773 crore for highways projects.

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Ircon International Limited (IRCON)

Ircon International Limited (IRCON) is an engineering and construction organisation, specialized in transport infrastructure. The PSU was established in 1976, by the government under the Indian Companies Act 1956. IRCON was registered as the Indian Railway Construction International Ltd., a wholly (100%) owned entity of the Ministry of Railways. Its primary charter was the construction of railway projects in India and abroad. IRCON has since diversified into other transport and infrastructure segments and with its expanded scope of operations around the world, the name was changed to Indian Railway International Ltd. in October 1995.

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