IRFC Q3 Results: PAT Up 10.5% to ₹1,802 Cr | AUM Hits Record ₹4.75 Lakh Cr

Mumbai: Indian Railway Finance Corporation Ltd. (IRFC), a Navratna public sector enterprise under the Ministry of Railways, announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following a meeting of its Board of Directors today.

The company reported its highest-ever quarterly profit, marking the third consecutive quarter of record earnings, driven by successful diversification under its 'IRFC 2.0' strategy and disciplined financial management.

Key Financial & Operational Highlights (Q3 FY26):

Profit After Tax (PAT): Recorded at ₹1,802.19 crore, a 10.52% increase Year-on-Year (YoY).
Net Interest Margin (NIM): Improved by over 8% YoY, supported by value-accretive disbursements.
Assets Under Management (AUM): Reached an all-time high of ₹4.75 lakh crore as of December 31, 2025.
Net Worth: Also touched a record high of ₹56,625.41 crore.
Sanctions: Achieved its full-year sanction guidance of ₹60,000 crore within the first nine months of FY26.
Disbursements: On track to meet the annual target of ₹30,000 crore, with nearly three-fourths already disbursed by Q3-end.
Asset Quality: Maintained its zero NPA (Non-Performing Asset) record.

Nine-Month Performance (Apr-Dec 2025):

Cumulative PAT: Stood at ₹5,324.86 crore, reflecting a 10.47% growth over the same period last year (₹4,820.13 crore).
Total Income: Was ₹20,009.38 crore.

Strategic Milestones & Management Commentary:

A significant operational highlight was the ₹9,821 crore refinancing of the Dedicated Freight Corridor Corporation of India Limited's (DFCCIL) World Bank loan. This strategic move replaced foreign currency exposure with rupee financing, generating savings and de-risking a critical national project.

Mr. Manoj Kumar Dubey, Chairman and Managing Director, IRFC, stated, "Our Q3 performance demonstrates the resilience of IRFC's business model and the effectiveness of diversification... We have already achieved our annual sanction guidance of ₹60,000 crore within nine months itself, which underlines the robustness of our pipeline and the speed of execution."

He further highlighted the refinancing transaction as establishing a "scalable template" for other large railway projects.

Funding & Recognition:

During the quarter, IRFC strengthened its funding profile by securing a USD 300 million (JPY 46.458 billion) External Commercial Borrowing (ECB) facility from Sumitomo Mitsui Banking Corporation. It also raised funds via Zero-Coupon Bonds.

The company received its fifth consecutive "Excellent" performance rating from the Department of Public Enterprises (DPE), underscoring strong governance and execution.

Outlook:

IRFC anticipates the positive impact of higher-margin diversified lending and fresh project agreements with Indian Railways to become more pronounced from the next financial year. The corporation is actively exploring co-financing with multilateral agencies, refinancing rail-linked projects, and selective expansion into aligned sectors like metro rail, renewable energy, and ports.

Regulatory Submission:

The company has duly submitted the approved financial results, along with the statutory auditors' limited review report and a press release, to the BSE and the National Stock Exchange of India Ltd., in compliance with SEBI (LODR) Regulations, 2015.

About IRFC:
Indian Railway Finance Corporation Ltd. is the dedicated financing arm of the Indian Railways. It raises funds from domestic and international capital markets to finance the acquisition of rolling stock assets and infrastructure projects for the Indian Railways.