IRCON International posted a consolidated net profit of Rs88.99cr for the quarter ending June 2021 (Q1FY22) 158% from Rs34.46cr in the same quarter last year.
IRCON's consolidated total income for the quarter under review was Rs1,175.54cr increasing from Rs549.29cr a year ago same period.
In Q1FY22, the company has secured new order of Rs659cr from North Frontier Railways (NFR), Ministry of Railways on a competitive bidding basis among PSUs. As of June 30 to 2021, the total order book stands at Rs34,312cr.
In the financial audit report, IRCON said that the company operations during the quarter were impacted due to the 2nd wave of Covid-19 pandemic.
The Company expects to recover the carrying amount of its financial and nonfinancial assets in the ordinary course of business based on information available on current economic conditions. The Company will continue to monitor closely any pandemic related uncertainty arising from material changes to future economic conditions, it added.
At around 11:41 AM, IRCON was trading at Rs44.75 per piece up by 1.4% on Sensex.