New Delhi: IRCON International Limited, a Government of India undertaking under the Ministry of Railways, has announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 4, 2026, from 2:30 pm to 4:00 pm.
The company reported growth in revenue from operations across both standalone and consolidated businesses during the second quarter of FY27. However, profitability declined compared with the corresponding quarter of the previous financial year.
IRCON International Standalone Q2 FY27 Financial Performance
On a standalone basis, IRCON’s revenue from operations increased 12.9% year-on-year to ₹2,090.24 crore in Q2 FY27, compared with ₹1,851.53 crore in Q2 FY26.
However, standalone net profit after tax declined 34% to ₹121.92 crore from ₹184.67 crore in the corresponding quarter last year. Basic earnings per share (EPS) stood at ₹1.30, down 33.7% from ₹1.96 in Q2 FY26.
For the first half of FY27, standalone revenue from operations rose 10.7% to ₹3,890.51 crore from ₹3,515.72 crore in H1 FY26. Net profit declined 14.9% to ₹285.44 crore against ₹335.24 crore in the year-ago period. Basic EPS stood at ₹3.03 compared with ₹3.56.
The company’s standalone total income for Q2 FY27 stood at ₹2,187.80 crore. Profit before tax (PBT) was ₹181.10 crore, compared with ₹226.37 crore in Q2 FY26.
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IRCON International Consolidated Q2 FY27 Results
On a consolidated basis, revenue from operations grew 14.9% year-on-year to ₹2,271.66 crore in Q2 FY27, compared with ₹1,976.75 crore in the same quarter of the previous financial year.
Consolidated net profit after tax declined 26.5% to ₹100.34 crore from ₹136.51 crore. Profit attributable to owners of the company stood at ₹102.87 crore, down 25.8% from ₹138.65 crore in Q2 FY26.
Basic EPS declined 25.9% to ₹1.09 from ₹1.47 in the corresponding quarter last year.
For H1 FY27, consolidated revenue from operations increased 12.3% to ₹4,227.49 crore from ₹3,763.03 crore. However, consolidated net profit fell 36% to ₹192.37 crore from ₹300.61 crore. Profit attributable to owners declined 35.5% to ₹195.61 crore, while basic EPS stood at ₹2.08 against ₹3.22 in H1 FY26.
The company stated that the share of losses from joint ventures contributed to the decline in consolidated profitability.
Consolidated Income, Expenses and Profit Before Tax
IRCON’s consolidated total income for Q2 FY27 stood at ₹2,363.74 crore, compared with ₹2,112.18 crore in Q2 FY26.
Consolidated profit before tax was ₹159.59 crore, down 7.5% from ₹172.45 crore in the year-ago quarter.
On the expenditure front, project expenses increased to ₹1,667.67 crore from ₹1,539.93 crore in Q2 FY26. Finance costs rose significantly to ₹114.14 crore, compared with ₹84.54 crore in the corresponding period last year. Depreciation and amortisation expenses also increased to ₹45.73 crore from ₹40.01 crore.
The reported EBITDA, derived from segment results, stood at ₹318.65 crore in Q2 FY27, compared with ₹256.99 crore in Q2 FY26.
Board Notes NSE and BSE Penalties Over SEBI Compliance
During the meeting, the Board also took note of fines levied by the National Stock Exchange (NSE) and BSE for the quarter ended June 30, 2026.
The penalties relate to non-compliance with Regulations 17(1), 18(1) and 19(1)/19(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
These provisions concern the composition of the company’s Board of Directors, Audit Committee and Nomination and Remuneration Committee.
About IRCON International Limited
IRCON International Limited is a Government of India undertaking under the Ministry of Railways. The company is engaged in infrastructure development, with a focus on railway construction, transportation infrastructure and other engineering and construction projects in India and overseas.
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