IRFC holds its 35th AGM; Marks net profit nears Rs 6,100 cr in FY22

by Psu Connect
Date: 23-09-22

The net profit of IRFC for FY22 stood at Rs 6,089.84 crore, an increase of 37.89% against Rs 4416.13 crore in the last fiscal.

IRFC holds its 35th AGM; Marks net profit nears Rs 6,100 cr in FY22

NEW DELHI: The 35th Annual General Meeting of the Indian Railway Finance Corporation Limited (IRFC) was held under the chairmanship of its Chairman and Managing Director, Shri. Amitabh Banerjee today.

While addressing the AGM, Shri. Amitabh Banerjee said: “IRFC reported a strong financial performance during the year under review, with all-time high revenue and profits. The net profit of IRFC for FY22 stood at Rs 6,089.84 crore, an increase of 37.89% against Rs 4416.13 crore in the last fiscal.”

Mr. Banerjee further informed that the total revenue from operations grew by 28.71%, year-on-year, amounting to Rs 20,298.27 crore against Rs 15,770.22 crore in the last fiscal year. The company has declared a total dividend of Rs 1,829.59 crore which works out to 30.04% of PAT for FY 2021-22, he added.

While addressing the shareholders during the virtual AGM, Mr. Banerjee informed that IRFC disbursed an amount of ?60,683.41 crore in FY22 to the Indian Railways. The AUM for FY22 stands at Rs 4,29,851 crore, registering a year-on-year growth of 16.03%.

He informed that the capital adequacy ratio of IRFC continues to remain strong at 439.73% in FY22. The total Capital Outlay (Capital Expenditure) of MoR for the year 2021-22 was Rs 1,90,000 crore out of which IRFC’s disbursement against the same was significant at Rs 60,683.41 crore, which constituted 31.4% of total capital outlay for the year 2021-22.

The Annual General Meeting was attended by Shri. Mohit Sinha Additional Member (Revenue)/Railway Board, Representative of Hon’ble President of India; Smt. Shelly Verma Director (Finance) IRFC; Shri. Baldeo Purushartha Government Nominee Director; Shri. Bhaskar Choradia Government Nominee Director; Shri. Vallabhbhai Maneklal Patel, Non- Official/Independent Director; Smt. Sheela Pandit, Non- Official/Independent Director; Shri. Vijay Shirode Company Secretary; DK Singh Statutory Auditor and others. A total of 139 shareholders participated in the virtual AGM.