IRFC clocks profit of Rs 1,502 crore in Q1
New Delhi [India], Aug 14 (ANI): Indian Railway Finance Corporation (IRFC) has posted profit growth of 68 per cent for Q1 FY22 at Rs 1,502 crore vis-a-vis Rs 892 crore in the same period of last year.
ANI
Aug 14, 2021 10:57 IST
New Delhi [India], Aug 14 (ANI): Indian Railway Finance Corporation (IRFC) has posted profit growth of 68 per cent for Q1 FY22 at Rs 1,502 crore vis-a-vis Rs 892 crore in the same period of last year.
Revenue from operations grew by 25 per cent to Rs 4,582 crore as against Rs 3,669 crore in the same period.
Net worth of the company at the end of Q1 FY22 stands at Rs 37,417 crore, up by 20 per cent as compared to Rs 31,193 crore reported in Q1 FY21.
Total borrowings at Rs 3.28 lakh crore are up by 40 per cent as against Rs 2.34 lakh crore. Assets under management to end of Q1 FY22 were Rs 3.66 lakh crore.
The dedicated market borrowing arm of Indian Railways continues to raise funds at competitive rates and terms from domestic and overseas financial markets which has helped keep its cost of borrowing low.
Amitabh Banerjee, Chairman and Managing Director, said the consistently strong financial results of IRFC tell the tale of immense growth in railway infrastructure in the country.
"In view of massive railway infrastructure investment envisaged as per National Rail Plan 2030, IRFC can foresee a sustained growth in revenue and profitability in the coming years," said Banerjee in a statement. (ANI)
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