IRFC Q2 PAT up 4% y-o-y to ₹1,612 Crore

5 Nov 2024 , 09:23 AM

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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