Indian Railway Finance Corp. posted a 4.4% rise in its net profit in the second quarter of the current financial year.
The public sector undertaking posted a profit of Rs 1,613 crore in the quarter ended September as compared to Rs 1,545 crore in the same period last year, according to an exchange filing on Monday.
The company's income grew 2% to Rs 6,900 crore in the July–September period in comparison to Rs 6,762 crore in the year-ago period.
It has also announced an interim dividend of Rs 0.80 per equity share at a Rs 10 each for the fiscal.
IRFC Q2 FY25 Earnings Highlights (YoY)
Total Income up, 2% to Rs 6,900 crore versus Rs 6,762 crore
Net profit up 4.4% to Rs 1,613 crore versus Rs 1,545 crore
Company Updates
Earlier in October, IRFC's board of directors have agreed to finance 20 rakes at Rs 700 crore for NTPC Ltd. The 20 rakes were procured under the general-purpose wagon investment scheme under the Ministry of Railways
Additionally, Ajoy Choudhury was appointed as the chief risk officer for a period of two years on the recommendation of the RMC Committee.
Shares of IRFC closed 3.08% lower at Rs 153.24 apiece on the NSE, compared to a 1.27% fall in the benchmark Nifty 50.
The stock has risen 110.49% in the last 12 months. The relative strength index was 54.24. No analyst tracks the company.
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