New Delhi: Indian Railway Finance Corporation Limited (IRFC), a ‘Mini-Ratna’ Schedule-A Public Sector Enterprise under the administrative control of the Ministry of Railways, Government of India, holds a prominent position as the dedicated financing arm of the Indian Railways.
IRFC, registered with RBI as a non-deposit taking Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC), has today reported its unaudited financial results (Standalone) for the 2nd Quarter and Half Year ended 30th September 2024.
During the period ending 30th September 2024, the Company reported a PAT of Rs. 3,189.47 crore, compared to Rs. 3,095.86 crore reported in the corresponding period in the previous year.
The Company posted profit growth of 4.41% for Q2 FY 2024-25 at Rs. 1,612.65 crore, compared to Rs. 1,544.58 crore reported in Q2 FY 2023-24.
The total income for the six months ended 30th September 2024 grew by 1.70%, reaching Rs. 13,666.22 crore, as against Rs. 13,437.91 crore reported in the corresponding period of the previous year.
The total income for Q2 FY 2024-25 also grew by 2.04%, reaching Rs. 6,900.20 crore, as against Rs. 6,762.18 crore reported in Q2 FY 2023-24.
The net worth at the end of the six-month period ended 30th September 2024 stands at Rs. 51,464.12 crore, up by 9.77%, as against Rs. 46,883.22 crore reported for the six months ended 30th September 2023.
The Assets Under Management (AUM) as of the end of the six-month period ended 30th September 2024 stands at Rs. 4,62,282.62 crore.
The Earnings Per Share of the Company is at Rs. 2.44 for the six-month period ended 30th September 2024, and the Company is consistently paying dividends, having declared Rs. 0.80 per share (at a dividend rate of 8%) as an interim dividend for FY 24-25.
Manoj Kumar Dubey, Chairman & Managing Director, IRFC, stated that IRFC will not only strengthen the financial ecosystem for Railway Infrastructure projects but is also making all efforts to diversify its lending portfolio as per the current mandate into sectors with backward and forward linkages with Indian Railways.
Further, IRFC has sanctioned Rs. 700 crore funding under the finance lease model to NTPC Limited (National Thermal Power Corporation) for 20 BOBR Rakes under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways.
BI Bureau
