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Business Standard

IRFC Q4 results: Net profit down 3% at Rs 1,667 cr, expenses at Rs 5,042 cr

The company under the Ministry of Railways had earned a profit of Rs 1,717 crore during the fourth quarter of the FY24 Press Trust of India New Delhi Indian Railway Finance Corporation (IRFC) on Monday reported a 3 per cent decline in its profit at Rs 1,667 crore for the March quarter. The company under the Ministry of Railways had earned a profit of Rs 1,717 crore during the fourth quarter of the FY24. The company's total income rose to Rs 6,723 crore in the January-March quarter from Rs 6,478 crore in FY24, the state-owned company said in a regulatory filing. During the period under review, its expenses also increased to Rs 5,042 crore as against Rs 4,761 crore a year ago. The board of directors also approved the raising of resources for the financial year 202526 up to Rs 60,000 crore from both domestic and international markets. It will be raised through a prudent mix of tax-free bonds, taxable bonds on a private placement or public issue basis including capital gain bonds, government-guaranteed bonds, and government-serviced bonds, it said. Besides, the board of IRFC approved the appointment of Randhir Sahay as Director (Finance) with effect from the date of assumption of charge. Commenting on quarterly numbers, IRFC CMD Manoj Kumar Dubey said, "We are actively working towards garnering cheaper sources of funding through various sources, including zero coupon bonds, capturing more of capital gain tax exemption bonds, leveraging cheaper domestic bond market, and by deploying these resources at the most competitive rates. IRFC is strategically diversifying its lending portfolio, positioning itself as a key lender in the infrastructure and the logistics ecosystem, having railways at its center, he said.