IRFC Q2 Profit Rises 4% to Rs 1,613 Cr, Interim Dividend Declared

New Delhi, Nov 4 (PTI) Indian Railway Finance Corporation Ltd (IRFC) on Monday reported a 4 per cent increase in net profit to Rs 1,613 crore for the September quarter.

The NBFC under the administrative control of the Ministry of Railways had earned a net profit of Rs 1,545 crore in the year-ago period.

The total income of the company rose to Rs 6,900 crore from Rs 6,762 crore in the year-ago period, IRFC said in a regulatory filing.

The total expenses of the Mini-Ratna company during the period under review rose marginally to Rs 5,288 crore from Rs 5,218 crore in the corresponding period a year ago.

The Assets Under Management (AUM) stood at Rs 4,62,283 crore at the end of September 2024.

Meanwhile, the board of the company approved an interim dividend of Rs 0.80/share (or 8 per cent) on the face value of Rs 10 for 2024-25.

IRFC Chairman & Managing Director Manoj Kumar Dubey said the company will not only strengthen the financial ecosystem for railway infrastructure projects but is also making all efforts to diversify its lending portfolio as per current mandate into sectors with backward and forward linkage with Indian Railways.

Further, he said, IRFC has sanctioned Rs 700 crore funding under finance lease model to NTPC Ltd for 20 rakes under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways.