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IRFC reported a stellar performance in FY'21 with all time high profit: CMD

Addressing the 34th Annual General Meeting, IRFC Chairman and Managing Director Amitabh Banerjee said IRFC reported a stellar performance during the FY'21 with all-time high revenue and profits
IRFC reports a net profit of Rs 4,416.13 crore in FY21
IRFC reports a net profit of Rs 4,416.13 crore in FY21

New Delhi: "IRFC reported a stellar performance during the year under review, with all-time high revenue and profits. The net profit of IRFC for FY21 stood at Rs 4,416.13 crore, an increase of 38.34 percent, against Rs 3,192.09 crore in the last fiscal," IRFC Chairman and Managing Director Amitabh Banerjee said on Wednesday. While addressing the 34th Annual General Meeting Banerjee said the total revenue from operations grew 17.51 percent year-on-year, amounting to Rs 15,770.47 crore in 2020-21 as against Rs 13,421.01 crore in the previous financial year. 

IRFC in FY'21 has reported a 38.34 percent jump in its net profit to an all-time high of Rs 4,416.13 crore for the last financial year 2020-21. The company has posted a net profit of Rs 3,192.09 crore in the financial year 2019-20. The company has declared an interim dividend of Rs 1,372.19 crore which works out to 31.07 percent of profit after tax (PAT) for the financial year 2020-21.

While addressing the shareholders during the virtual AGM, Banerjee said IRFC has recorded a phenomenal 51 percent growth in annual disbursements, which increased from Rs 70,471.96 crore in FY20 to Rs 1,04,369 crore in FY21.

The assets under management (AUM) for 2020-21 stands at Rs 3,60,079 crore, registering a year-on-year growth of 35.29 percent.

He said the capital adequacy ratio of IRFC continues to remain strong at 420.46 percent in FY21.

The total capital outlay (capital expenditure) of the railway ministry for the year 2020-21 was Rs 1,55,161 crore. Out of the total, IRFC''s disbursement against the same was significant at Rs 1,04,369 crore, which constitutes 67.43 percent of the total capital outlay for the year 2020-21, he said.

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The AGM was attended by Railway Board's Additional Member (Revenue) Mohit Sinha, Representative of President, IRFC Director (Finance) Shelly Verma, Government Nominee Director Bhaskar Choradia, Company Secretary Vijay Shirode and Secretarial Auditor Navneet Arora. A total of 141 shareholders participated in the virtual AGM.

IRFC is the dedicated borrowing arm of Indian Railways under the Ministry of Railways. It finances the acquisition of rolling stock assets along with providing funds for building infrastructure for Railways. The primary objective of IRFC is to meet the ‘Extra Budgetary Resources (EBR) of the Indian Railways through market borrowings at the most competitive rates.

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