Mumbai: IRCON International reported a 44 percent year-on-year decline in consolidated net profit to Rs 92.0 crore for Q1 FY27, compared with Rs 164.1 crore in Q1 FY26, even as revenue from operations rose 9.5 percent to Rs 1,956 crore from Rs 1,786 crore.
Sequentially, net profit fell 52 percent from Rs 191.5 crore in Q4 FY26, while revenue declined 39 percent from Rs 3,189 crore.
Q1 Revenue Rises Year-On-Year
The railway infrastructure company's consolidated total income increased 7.9 percent year-on-year to Rs 2,043 crore in Q1 FY27 from Rs 1,892 crore in Q1 FY26.
Total expenses rose 12 percent to Rs 1,903 crore from Rs 1,699 crore over the same period. Profit before tax stood at Rs 126.8 crore, down 40 percent from Rs 211.5 crore in Q1 FY26.
The company's share of joint-venture results was a loss of Rs 13.36 crore, compared with a profit of Rs 17.90 crore a year earlier.
Sequential Performance
Compared with Q4 FY26, revenue from operations declined 39 percent from Rs 3,189 crore, while total income fell 38 percent from Rs 3,291 crore. Total expenses declined to Rs 1,903 crore from Rs 3,063 crore.
Profit before tax fell 49 percent sequentially from Rs 247.8 crore. Net profit declined 52 percent from Rs 191.5 crore in Q4 FY26.
The share of joint-venture results moved from a profit of Rs 20.05 crore in the March quarter to a loss of Rs 13.36 crore in Q1 FY27. No exceptional item was reported during the quarter.
Domestic Business Leads Revenue
On a consolidated basis, revenue from domestic customers stood at Rs 1,914 crore during Q1 FY27, while revenue from international customers was Rs 42.0 crore.
The company's basic and diluted earnings per share stood at Rs 0.99 each, compared with Rs 1.75 each in Q1 FY26 and Rs 2.04 each in Q4 FY26.
The filing also said the toll collection rights of Ircon-Soma Tollway Private Limited ceased on May 14, 2026 following expiry of the extended concession period.
IRCON said it did not perceive any impairment in its investment in the joint venture.
Annual Comparison
The filing provides audited FY26 figures but does not report full-year FY27 numbers. For FY26, consolidated revenue from operations was Rs 9,071 crore, while net profit stood at Rs 591.9 crore.
Full-year FY27 and FY26 figures therefore cannot yet be compared on a like-for-like basis.
Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.
