From Rs 6,230.2 crore in FY23 to Rs 6,477.9 crore in the January-March quarter, the company’s overall income increased. Its expenses for the reviewed period were Rs 4,760.6 crore as opposed to Rs 4,945 crore for the previous year.
Due to increased revenue, Indian Railway Finance Corporation Ltd.’s net profit increased 34% year over year to Rs 1,717.3 crore in the quarter that ended in March 2024. In the fourth quarter of the previous fiscal year, it generated a profit of Rs 1,285.2 crore, as per its regulatory filing on Monday. From Rs 6,230.2 crore in FY23 to Rs 6,477.9 crore in the January-March quarter, the company’s overall income increased. Its expenses for the reviewed period were Rs 4,760.6 crore as opposed to Rs 4,945 crore for the previous year.
IRFC Q4 Results Highlights: (Consolidated, YoY)
- Total income rose 5% to Rs 6,473 crore.
- Net profit rose 34% to Rs 1,717 crore.
The company’s board approved a final dividend of 70 paise per share for the fiscal year 2023–24, pending approval from shareholders at the ensuing annual general meeting.
The board of directors also approved raising funds for the financial year 2024–25 up to Rs 50,000 crore from both domestic and international markets. It will be raised ‘through a prudent mix of tax-free bonds and taxable bonds on a private placement or public issue basis’, including capital gain bonds, government-guaranteed bonds, and government serviced bonds.
The primary objective of the IRFC, under the Ministry of Railways, is to meet the predominant portion of the extra budgetary resource requirement of the Indian Railways through market borrowings at the most competitive rates and terms.
