IRCON's consolidated Q1 net profit up over 2.5 times to Rs 88.99 crore

Total income during the period under review was Rs 1,175.54 crore, up from Rs 549.29 crore in the same months of FY21.

Ircon International has reported Rs 88.99 crore consolidated net profit for the first quarter of financial year 2021-22. This is 158 per cent higher than the Rs 34.46 crore consolidated net profit reported by the company in the same period of financial year 2020-21.

Ircon’s Board approved an interim dividend of 0.45 paisa per equity share on face value of Rs 2 per share for the financial year 2021-22. The Board also recommended a revised final dividend of Rs 1.70 per equity share instead of Rs 1.32 per equity share recommended earlier in a meeting held on June 30, 2021 on face value of Rs 2 per share for the financial year 2020-21. This will be subject to the approval of the shareholders.

Consolidated total income during the period under review stood at Rs 1,175.54 crore, up from Rs 549.29 crore in the same months of financial year 2020-21.

Company operations were impacted due to the second wave of Covid-19 pandemic. “The Company expects to recover the carrying amount of its financial and non-financial assets in the ordinary course of business based on information available on current economic conditions,” IRCON said.

As of June 30, the total order book stands at Rs 34,312 crore with Rs 32,605 crore from the Railways and Rs 1,707 crore from highways.