IRFC Q2 net profit goes up 14% to Rs 1,714 crore

11 Nov 2022 , 09:52 AM

Indian Railway Finance Corporation (IRFC) said on Thursday that its profit for the second quarter ended September 30, 2022, increased by 14% to Rs 1,714 crore. The business, which serves as the Indian Railways’ designated market borrowing arm, made Rs 1,501 crore in profit over the same period the year before.

According to a statement from the IRFC, the revenue from operations for Q2 FY23 increased by 23.88% to Rs 5,810 crore from Rs 4,690 crore reported during the same period last year. According to the statement, as of September 30, 2022, the net value was Rs 43,549 crore, and assets under management (AUM) were Rs 4,39,070 crore.

An interim dividend of 8% of the shares’ face value of Rs. 10 each, or Rs. 0.80 per share for 2022—2023, was also agreed upon by the company’s board, according to the statement. By the end of the second quarter of FY23, IRFC’s total funding for the Indian railway industry had surpassed Rs 5.05 lakh crore.

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