State-run engineering and construction firm IRCON International reported a sharp decline in its first quarter performance for FY26, with profit after tax falling 26.5% year-on-year to ₹164.5 crore. The drop came on the back of a notable decline in overall income.
Revenue from operations for the April–June 2025 quarter stood at ₹1,786 crore, down 21.9% from ₹2,287 crore in the same period last year. Total income also declined to ₹1,892.4 crore from ₹2,385.3 crore a year ago.
Operating profit (EBITDA) fell 20% YoY to ₹200 crore, while margins remained largely steady at 11.2% versus 11% a year ago.
Ahead of the earnings release, shares of IRCON International closed at ₹171.50 on the NSE, down 2.06%.
Despite the weak financials, the company’s order book remains strong. As of June 30, 2025, IRCON had a total order book worth ₹20,973 crore, comprising ₹15,724 crore from railways, ₹4,234 crore from highways, and ₹1,015 crore from other sectors.
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In its outlook, the company pointed to continued government focus on infrastructure through mega programmes such as PM READY Shakti, Bharatmala, Sagarmalaand the National Logistics Policy.
With initiatives like the Smart Cities Mission and NaMo Bharat pushing urban mobility and logistics, IRCON said it is well-positioned to tap upcoming opportunities across transport and urban infrastructure segments.
The company sees India’s ongoing infrastructure transformation, spurred by both government and private investments, as a long-term growth driver, despite short-term volatility in execution and income.