Indian Railway Finance Corporation (IRFC) on Monday presented its results for the second quarter ended September 2024, wherein the business reported a 4% climb in its profit after tax (PAT) at ₹1,612.65 Crore on a year-on-year (YoY) basis, while income from operations increased by 2%.
PAT was reported at ₹1,544.58 Crore for the same quarter in the previous fiscal year.
Meanwhile, operating revenue was reported at ₹6,899.34 Crore, compared to ₹6,761.02 Crore in the previous year.
The profit increased by 2.2% on a quarterly basis. The figure was ₹1,576.82 Crore for the first quarter of 2024, ending June 30.
The company has also declared an interim dividend of ₹0.80 per share for its shareholders, with the record date set for November 12 earlier in the month of October.
IRFC’s operating profits were also reported to be 4.5% higher at ₹1,650.6 Crore compared to ₹1,579.53 Crore in the previous year.
On the other hand, the company’s overall expenses increased marginally by 1% to ₹5,287.55 Crore from ₹5,217.60 Crore in the second quarter of FY24 and nearly 2% from ₹5,189.2 Crore in the preceding quarter.
IRFC shares have returned 112.22% in the previous year and are up 52.5% this year. However, the stock has declined by 20.4% over the last three months and 2.5% over the last six months.
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