IRFC Navigates Profit Decline and Strategic Resource Expansion

The Indian Railway Finance Corporation reported a 3% drop in its profit for the March quarter, totaling Rs 1,667 crore. The company plans to raise up to Rs 60,000 crore in FY25-26 through various bonds. IRFC also named Randhir Sahay as Director of Finance.

Indian Railway Finance Corporation (IRFC) on Monday reported a 3% decline in its profit, amounting to Rs 1,667 crore for the March quarter, compared to Rs 1,717 crore in the fourth quarter of FY24.

The corporation reported a rise in total income to Rs 6,723 crore in the January-March period, up from Rs 6,478 crore in FY24, despite an increase in expenses to Rs 5,042 crore from Rs 4,761 crore the previous year.

The IRFC board has approved raising resources up to Rs 60,000 crore for FY25-26 from both domestic and international markets, through a mix of tax-free and taxable bonds. Additionally, Randhir Sahay was appointed as Director (Finance). IRFC CMD Manoj Kumar Dubey highlighted strategic diversification into infrastructure lending, leveraging various funding avenues.

(With inputs from agencies.)