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IRM Energy Q3 FY26 results: net profit up 38.4% to ₹13.98 crore, revenue up 5.6%
IRM Energy Limited reported consolidated revenue of ₹288.69 crore in Q3 FY26, up 5.6% from ₹273.32 crore a year earlier and 2.5% from ₹281.78 crore in Q2 FY26. Net profit was ₹13.98 crore against ₹10.10 crore a year earlier and ₹12.56 crore in the previous quarter, while the EBITDA margin rose to 10.3% from 8.1% a year ago. On a standalone basis, revenue was ₹265.05 crore and profit after tax was ₹15.19 crore.
Key points
- Consolidated revenue was ₹288.69 crore in Q3 FY26, up 5.6% year on year from ₹273.32 crore and 2.5% from ₹281.78 crore in Q2 FY26.
- EBITDA was ₹29.63 crore, up 33.5% from ₹22.20 crore a year earlier and 11.0% from ₹26.70 crore in the previous quarter.
- The EBITDA margin rose to 10.3% from 8.1% in Q3 FY25 and 9.5% in Q2 FY26.
- Net profit was ₹13.98 crore against ₹10.10 crore a year earlier and ₹12.56 crore in Q2 FY26, with basic EPS of ₹3.40.
- For 9M FY26, revenue was ₹855.95 crore, up 11.5% from ₹767.38 crore, while net profit was ₹40.45 crore against ₹40.81 crore.
How did IRM Energy perform in Q3 FY26?
IRM Energy Limited reported consolidated revenue of ₹288.69 crore for the October–December 2025 quarter, up 5.6% from ₹273.32 crore in Q3 FY25 and 2.5% from ₹281.78 crore in Q2 FY26. Total income was ₹295.02 crore, up 5.3% from ₹280.21 crore a year earlier and 2.7% from ₹287.31 crore in the previous quarter. On a standalone basis, revenue was ₹265.05 crore against ₹250.75 crore a year earlier and ₹259.44 crore in Q2 FY26.
Consolidated EBITDA was ₹29.63 crore, up 33.5% from ₹22.20 crore a year earlier and 11.0% from ₹26.70 crore in Q2 FY26. The EBITDA margin was 10.3%, compared with 8.1% in Q3 FY25 and 9.5% in the previous quarter, while the PAT margin was 4.8% against 3.7% and 4.5%.
Profit before tax was ₹22.13 crore, up 38.8% from ₹15.94 crore a year earlier and 16.8% from ₹18.95 crore in Q2 FY26. Net profit was ₹13.98 crore against ₹10.10 crore in Q3 FY25 and ₹12.56 crore in the previous quarter, with basic EPS of ₹3.40 compared with ₹2.46 and ₹3.06 respectively. Standalone revenue was ₹265.05 crore and profit after tax was ₹15.19 crore.
| ₹ crore | Q3 FY26 | Q2 FY26 | Q3 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 288.69 | 281.78 | 273.32 | +5.6% | +2.5% |
| Other income | 6.32 | 5.53 | 6.89 | −8.3% | +14.3% |
| Total expenses | 272.89 | 268.36 | 264.27 | +3.3% | +1.7% |
| EBITDA | 29.63 | 26.70 | 22.20 | +33.5% | +11.0% |
| EBITDA margin | 10.3% | 9.5% | 8.1% | +2.2 pp | +0.8 pp |
| Profit before tax | 22.13 | 18.95 | 15.94 | +38.8% | +16.8% |
| Tax | 7 | 4.76 | 5.15 | +35.9% | +47.1% |
| Net profit | 13.98 | 12.56 | 10.10 | +38.4% | +11.3% |
| EPS (₹) | 3.40 | 3.06 | 2.46 | +38.2% | +11.1% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in IRM Energy's costs and profit?
Total expenses rose ₹8.62 crore year on year to ₹272.89 crore from ₹264.27 crore, an increase of 3.3%, against revenue growth of 5.6%. Employee cost was higher by ₹1.78 crore at ₹6.61 crore, depreciation rose ₹2.89 crore to ₹11.01 crore, and other expenses increased ₹1.70 crore to ₹55.74 crore.
Finance costs fell ₹2.23 crore to ₹2.81 crore from ₹5.04 crore, while other income was lower by ₹0.57 crore at ₹6.32 crore against ₹6.89 crore. There was no exceptional item in either quarter. Tax expense rose ₹1.85 crore to ₹7 crore from ₹5.15 crore, and the resulting net profit was ₹13.98 crore against ₹10.10 crore.
Against the previous quarter, total expenses were higher by ₹4.53 crore at ₹272.89 crore. Employee cost rose ₹0.94 crore to ₹6.61 crore and depreciation rose ₹0.60 crore to ₹11.01 crore, while finance costs fell ₹0.06 crore to ₹2.81 crore and other expenses fell ₹0.22 crore to ₹55.74 crore. Other income rose ₹0.79 crore to ₹6.32 crore and tax expense rose ₹2.24 crore to ₹7 crore.
| ₹ crore | Q3 FY26 | Q3 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 6.61 | 4.83 | +1.78 | +36.9% |
| Finance costs | 2.81 | 5.04 | −2.23 | −44.2% |
| Depreciation | 11.01 | 8.12 | +2.89 | +35.6% |
| Other expenses | 55.74 | 54.04 | +1.70 | +3.1% |
| Total expenses | 272.89 | 264.27 | +8.62 | +3.3% |
| Other income | 6.32 | 6.89 | −0.57 | −8.3% |
| Tax | 7 | 5.15 | +1.85 | +35.9% |
Source: Company's results filing (XBRL).
How did the first nine months of FY26 go?
For the first nine months of FY26, consolidated revenue was ₹855.95 crore, up ₹88.57 crore or 11.5% from ₹767.38 crore in 9M FY25. Total income was ₹876.04 crore, up ₹83.21 crore or 10.5% from ₹792.83 crore, while profit before tax was ₹60.83 crore against ₹63.27 crore.
Net profit for 9M FY26 was ₹40.45 crore against ₹40.81 crore in 9M FY25, with EPS of ₹9.85 compared with ₹9.94. The nine-month results therefore show higher revenue alongside a slightly lower net profit and EPS, while profit before tax fell ₹2.44 crore.
| ₹ crore | 9M FY26 | 9M FY25 | Change |
|---|---|---|---|
| Revenue from operations | 855.95 | 767.38 | +11.5% |
| Profit before tax | 60.83 | 63.27 | −3.9% |
| Net profit | 40.45 | 40.81 | −0.9% |
| EPS (₹) | 9.85 | 9.94 | −0.9% |
Source: Company's results filing (XBRL).
How has IRM Energy done over the last 8 quarters?
Revenue has risen year on year in each of the last six quarters, and profit after tax has risen year on year in each of the last two. Across the period shown, revenue moved from ₹231.59 crore in Q4 FY24 to ₹288.69 crore in Q3 FY26, with the lowest figure at the start of the series and the highest in Q4 FY25 at ₹288.97 crore.
Net profit after tax bottomed at ₹4.39 crore in Q4 FY25 and reached ₹18.7 crore in Q1 FY25. The EBITDA margin peaked at 12.4% in Q1 FY25, fell to 6.0% in Q4 FY25, and has since moved up to 10.3% in Q3 FY26 from 9.5% in Q2 FY26. Revenue and margin have both moved higher in the latest quarter.
What else did the company announce?
At its meeting on 3 February 2026, the board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, along with the limited review report issued by the statutory auditors. The meeting ran from 8:30 p.m. to 10:27 p.m. IST.
The board also approved the appointment of Mr. Vivek Vishwas Wathodkar as an Additional Independent Director with effect from 3 February 2026, and as an Independent Director for five consecutive years, subject to shareholder approval. The company filed an investor presentation on the quarter on 4 February 2026; the same-day filings state that capital expenditure was ₹35.51 crore in Q3 FY26 and ₹103.24 crore for 9M FY26.
What did IRM Energy's management say?
No earnings call statements, guidance, priorities, risks or analyst questions were recorded for this result, so no management commentary is available to attribute. The company did not change guidance, as no guidance was provided in the material filed with the results.
The filings themselves describe the business developments. The investor presentation states that CNG volume grew 21% year on year against 9% overall for the nine months, led by the Banaskantha geographic area, and that Trichy and Namakkal offer upside after infrastructure rollout. It also records that industrial customer growth has plateaued over the past three years as customers shifted to conventional power.
How did IRM Energy shares react?
The filing appeared after market hours. From the price when the results were published, the stock was up 4.2% after five minutes, 3.7% after 15 minutes and 2.7% after 30 minutes. The reaction day close was 5.5% above the previous close of ₹237.00.
By the next day's close the stock was up 5.6% from its pre-results close, and by the fifth session it was up 7.4%. The industry's median move was 0.9% on the reaction day, 0.0% over one session and 2.0% over five, so IRM Energy's move was 4.6 percentage points above the sector median on the day and 5.4 points ahead over five sessions. The Nifty Microcap 250 rose 1.3%, 0.3% and 2.6% over the same periods.
Earlier reaction-day moves were mixed: the stock fell 5.7% on 12 November 2025, rose 3.2% on 31 July 2025, fell 4.6% on 15 May 2025, fell 6.7% on 10 February 2025, fell 5.0% on 14 August 2024 and fell 4.8% on 21 May 2024.
| After the filing | Stock | LPG/CNG/PNG/LNG Supplier median |
|---|---|---|
| 5 minutes | +4.2% | |
| 15 minutes | +3.7% | |
| 30 minutes | +2.7% | |
| Reaction day | +5.5% | +0.9% |
| Next day | +5.6% | +0.0% |
| 5 days | +7.4% | +2.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 November 2025 | −5.7% |
| 31 July 2025 | +3.2% |
| 15 May 2025 | −4.6% |
| 10 February 2025 | −6.7% |
| 14 August 2024 | −5.0% |
| 21 May 2024 | −4.8% |
Source: MarketPing price-reaction measurement.
How did other LPG/CNG/PNG/LNG Supplier companies do?
Six other LPG/CNG/PNG/LNG Supplier companies that have filed this quarter were compared with IRM Energy. Their median revenue growth was 9.9%, against IRM Energy's year-on-year revenue growth of 5.6% in the quarter.
Of those peers, two grew revenue more slowly than IRM Energy and four grew faster. Profit was higher for three of the six peers compared, with three of the six showing higher profit.
| IRM Energy revenue growth (YoY) | +5.6% |
|---|---|
| Median of 6 other LPG/CNG/PNG/LNG Supplier companies | +9.9% |
| Companies with slower revenue growth than IRM Energy | 2 of 6 |
| Companies with faster revenue growth than IRM Energy | 4 of 6 |
| Companies whose net profit rose | 3 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was IRM Energy's revenue in Q3 FY26?
Revenue from operations was ₹288.69 crore, up 5.6% from ₹273.32 crore in Q3 FY25 (consolidated).
Did IRM Energy make a profit in Q3 FY26?
Yes. Net profit was ₹13.98 crore, against a net profit of ₹10.10 crore in Q3 FY25.
What was IRM Energy's EPS in Q3 FY26?
Basic earnings per share were ₹3.40, against ₹2.46 in Q3 FY25.
How did IRM Energy shares react to the Q3 FY26 results?
On the reaction day the stock moved +5.5% from the previous close; the median LPG/CNG/PNG/LNG Supplier stock moved +0.9%.
When did IRM Energy announce its Q3 FY26 results?
On 3 February 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 3 February 2026) · PDF
- The earnings call (10 February 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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