IRFC posts 9% jump in net profit for 9month period ended 31st December 2022

NEW DELHI: Indian Railway Finance Corporation Limited, a Schedule ‘A’ Miniratna Public Sector Enterprise under the Ministry of Railways, has announced its un-audited financial results for the nine-month period ended 31st December 2022.

The Company posted a profit growth of 8.96% for nine-month period ended 31st December 2022 at Rs. 5009.31 crore vis-a-vis Rs. 4597.34 crore for nine-month period ended 31st December 2021. The earning per share (EPS) of the Company is at Rs. 3.83 for nine-month period ended 31st December 2022 as compared to Rs. 3.52 for nine-month period ended 31st December 2021. The Company also posted profit growth of 2.48% for Q3 FY 2022-23 at Rs. 1633.45 crore vis-a-vis Rs. 1593.91 crore reported in Q3 FY 2021-22.

The revenue from operations for nine-month period ended 31st December 2022 grew by 22.89% to Rs. 17655.20 Crore as against Rs. 14367.14 Crore for nine-month period ended 31st December 2021. The revenue from operations for Q3 FY 2022-23 also grew by 22.02% to Rs. 6217.96 Crore as against Rs. 5095.81 Crore reported in Q3 FY 2021-22.

Net worth at the end of Q3 FY 2022-23 stands at Rs. 44142.14 crore and Assets Under Management (AUM) stands at Rs. 448032.64 crore as on 31st December 2022.

Commenting on the financial results, Ms. Shelly Verma, Chairman and Managing Director (Additional Charge) and Director (Finance) said that consistent and robust financial numbers of the company depict the growth story of Indian Railways and IRFC has played a pivotal role in augmenting the annual plan outlay of Indian Railways by way of mobilizing funds from all across the financial spectrum forming part of EBR funding.

She further added that IRFC over the years has built a strong brand image among the debt investor community and has a very competitive cost of borrowing which can be leveraged in diversification of lending portfolio and by financing infra projects having backward and forward linkage with Indian Railways as per the current mandate of the company.

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