IRFC Q4 Results: Profit Grows 34% To Rs 1,717 Crore, To Pay 70 Paise Dividend
The company's total income rose to Rs 6,477.9 crore in the January-March quarter from Rs 6,230.2 crore in FY23. During the period under review, its expenses stood at Rs 4,760.6 crore, compared to Rs 4,945 crore a year ago.
Indian Railway Finance Corporation Ltd.'s net profit rose 34% year-on-year to Rs 1,717.3 crore in the quarter ended March 2024, on account of higher income. It had clocked a profit of Rs 1,285.2 crore during the fourth quarter of the last fiscal, according to its regulatory filing on Monday.
The company's total income rose to Rs 6,477.9 crore in the January-March quarter from Rs 6,230.2 crore in FY23. During the period under review, its expenses stood at Rs 4,760.6 crore, compared to Rs 4,945 crore a year ago.
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.
