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Ircon International posts 47% rise in March quarter profit to Rs 170 cr

NEW DELHI: State-owned engineering and construction firm on Friday reported a 47 per cent rise in its consolidated net profit to Rs 170.43 crore for the quarter ended March 31, 2021, on account of increased income.

The company had clocked a consolidated net profit of Rs 115.40 crore in the corresponding period a year ago, it said in a regulatory filing to the BSE.

Its income during the March 2021 quarter rose to Rs 2,530.42 crore from Rs 1,896.53 crore in the year-ago period.

The firm’s expenditure rose to Rs 2,247.78 crore, from Rs 1,745.34 crore in the year-ago period.

In a statement, Ircon International Ltd said “the performance of the company was adversely affected in the first half of FY21. Despite the unprecedented situation, the company performed very well in Q4FY21.”

As of March 31, 2021, the total order book of the company stands at Rs 34,689 crore, it said.

Ircon International is a leading turnkey construction company having a presence in several states of India, and countries like Malaysia, Nepal, Bangladesh, South Africa, Algeria, and Sri Lanka.

The company has completed more than 128 projects in 25 countries across the globe and 390 projects in various states in India.

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