IRFC Q4 results, net profit increases 33.6 percent

The Shares of State-owned Indian Railway Finance Corporation (IRFC) surged 4.6 percent at Rs 181 per share on the BSE after the railway PSU announced its quarter results.

The company reported a 33.6 percent year-on-year increase in net profit reaching Rs 1,717 crore compared to Rs 1,285 crore in the corresponding period last year.

Total revenue from operations for the March quarter showed a mild rise of 1.73 per cent to Rs 6,473 crore from Rs 6,193 crore a year ago.

For FY24, the railway public sector company achieved a net profit of Rs 6,412 crore, rising 4 percent compared to Rs 6,167 crore in FY23. A total revenue of Rs 26,655 crore is registered in FY24, up by 12 percent as against Rs 23,762 crore in FY23.

IRFC also declared a final dividend of Rs 0.70 per equity share of Rs 10 for 2023-24.

The Board of Directors of Indian Railway Finance Corporation Limited has approved raising of resources for the financial year 2024-25 up to Rs. 50,000 crores from both domestic and international markets, through a combination of Tax-Free Bonds, Taxable Bonds on private placement or public issue basis, including Capital Gain Bonds u/s 54EC of Income Tax Act, and Government Guaranteed Bonds,” the company said in a statement.