IRFC Aims for Impressive Rs 60,000 Crore Milestone

The IRFC is expected to cross Rs 60,000 crore in loan sanctions by the third quarter's end. Chairman Manoj Kumar Dubey emphasized the strong fundamentals and strategic focus, predicting business targets will be surpassed. The company saw a 10% profit increase, though revenue slightly declined.

IRFC is set to surpass Rs 60,000 crore in loan sanctions by the end of the third quarter, according to Mayor Kumar Dubey, Chairman and Managing Director of the state-owned firm. This was announced at the 40th Foundation Day of the Navratna CPSE.

Dubey emphasized that reaching this milestone highlights IRFC's strong fundamentals, disciplined financial structure, and a strategic focus on growth, positioning the company for the next phase of expansion.

While IRFC reported a 10% rise in standalone net profit to Rs 1,777 crore in the second quarter, revenue from operations saw a decline, falling to Rs 6,372 crore compared to Rs 6,899 crore in the previous year.

(With inputs from agencies.)