IRFC Reports Profit Boost Amidst Steady Growth

The Indian Railway Finance Corporation Ltd (IRFC) saw a 2% increase in net profit to Rs 1,631 crore in the third quarter of December 2024. Total income increased slightly while expenses decreased marginally. The company's net worth grew, and it raised Rs 6,600 crore for expansion.

The Indian Railway Finance Corporation Ltd (IRFC), a significant NBFC under the Ministry of Railways, announced a 2% rise in net profit amounting to Rs 1,631 crore for the quarter ending in December 2024. This marks an increase compared to Rs 1,599 crore from the previous year.

According to a regulatory filing, IRFC's total income for the October-December period rose to Rs 6,766 crore, up from Rs 6,740 crore in the same period last year. Concurrently, the company's expenses saw a slight reduction, dropping to Rs 5,136 crore from Rs 5,141 crore.

IRFC's net worth continued its upward trajectory, reaching Rs 52,046 crore by the end of December 2024, compared to Rs 47,443 crore at the corresponding time the previous fiscal year. The corporation successfully raised Rs 6,600 crore through bonds to drive business expansion.

(With inputs from agencies.)