IRFC Faces Investor Scrutiny Post-Q2 Results

5 Nov 2024 , 12:58 PM

Shares of Indian Railway Finance Corporation (IRFC) are under scrutiny after the company’s second-quarter earnings for the fiscal year ending September 2024 were released.

The first-quarter number for the period ended June 30, 2024, was Rs 1,576.82 crore, representing a 2.2% quarterly growth in PAT.

Additionally, the firm announced in October that it would pay its shareholders an interim dividend of Rs 0.80 per share, with a record date of November 12.

IRFC’s operational profit increased from Rs 1,579.53 crore YoY to Rs 1,650.6 crore, a 4.5% increase.

While operating revenue increased by 2%, the railway PSU recorded a modest 4% year-over-year (YoY) growth in profit after tax (PAT) at Rs 1,612.65 crore.

PAT was Rs 1,544.58 crore for the same quarter of the prior fiscal year. Operational revenue was Rs 6,899.34 crore, up from Rs 6,761.02 crore during the same period last year.

The company’s overall expenses, however, increased by a slight 1% to Rs 5,287.55 crore from Rs 5,217.60 crore in Q2 FY24 and by over 2% from Rs 5,189.2 crore in the prior quarter.

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