Ircon International reported 76.18% fall in consolidated net profit to Rs 34.46 crore on 51.71% fall in total income to Rs 549.29 crore in Q1 June 2020 over Q1 June 2019.
The company's/ group's revenue from operations for the quarter has reduced substantially due to nationwide lockdown imposed to contain the spread of Covid-19. The company/ group has been able to resume operations at various project sites from the beginning of May 2020 in a gradual manner, Ircon International said. The results for the quarter are therefore not comparable with those of the previous quarters, the company said.
The announcement was made after market hours yesterday, 25 August 2020. Shares of Ircon International rose 0.94% to settle at Rs 96.80 yesterday.
Ircon International is a Miniratna (Category- I) Schedule A Public Sector Enterprise and a leading turnkey construction company.
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