IRFC posts 14.19% jump in net profit in Q2 FY 2022-23

New Delhi: Indian Railway Finance Corporation Limited, Schedule ‘A’ Public Sector Enterprise (“IRFC” or the “Company”), the dedicated market borrowing arm of the Indian Railways, has announced its unaudited financial results for the second quarter and half year ending 30th September 2022.

The Company posted profit growth of 14.19% for Q2 FY 2022-23 at Rs. 1,714 crore vis-a-vis Rs. 1,501 crores reported in Q2 FY 2021-22. The Company also posted a profit growth of 12.40% for H1 FY 2022-23 at Rs. 3,376 crore vis-a-vis Rs. 3,003 crores reported in H1 FY 2021-22.

The revenue from operations for Q2 FY 2022-23 also grew by 23.88% to Rs. 5,810 Crore as against Rs. 4,690 Crore reported in Q2 FY 2021-22. The revenue from operations for H1 FY 2022-23 grew by 23.36% to Rs. 11,438 Crore as against Rs. 9,271 Crore reported in H1 FY 2021-22.

Net worth at the end of Q2/H1 FY 2022-23 stands at Rs. 43,549 crore and Assets Under Management (AUM) stands at Rs. 4,39,070 crore as on 30th September 2022.

The earnings per share of the Company grew by 12.40% and the EPS of the Company is at Rs. 2.58 in H1 FY 2022-23 as compared to Rs. 2.30 in H1 FY 2021-22. The Board of Directors has also approved an interim dividend @8% of FV of Rs. 10/- each i.e., Rs. 0.80 per share for FY 2022-23.

Commenting on the financial results, Ms Shelly Verma, CMD (Addl. Charge) & Director (Finance) said: “The growth story of the Indian Railways sector is depicted in the robust financial numbers of IRFC. The cumulative funding to the Indian Railway sectors by IRFC has crossed the Rs. 5.05 trillion mark by the end of the Q2 FY 2022-23. The Company has played a critical role in augmenting the annual plan outlay of Indian Railways by way of mobilizing funds from all across the financial spectrum.”

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