PSU Watch logo

| South Central Railway cancels 55 trains due to low occupancy |   | Govt relaxes rules, households need not install solar rooftop via listed vendors only |   | Mumbai-Ahmedabad Bullet Train: NHSRCL signs agreement with IRCON |   | PTC India Chairman promises probe into allegations of corporate governance lapses |   | India’s solar module making capacity set to soar 400% by FY25: CRISIL |  

IRFC shares rise as profit grows at 59% for Q2'FY22

IRFC shares closed 1.44 percent higher at Rs 24.60 apiece on Monday as the Indian Railways PSU posted healthy profit growth of 59% at Rs. 3,003 crore for Q2'FY22
IRFC shares rise as the PSU posted profit growth of 59% at Rs. 3,003 crore for the H1 FY 2021-22
IRFC shares rise as the PSU posted profit growth of 59% at Rs. 3,003 crore for the H1 FY 2021-22

New Delhi:  Indian Railway Finance Corporation Limited (IRFC), the dedicated market borrowing arm of the Indian Railways, posted profit growth of 59% for H1 FY 2021-22 at Rs. 3,003 crore vis-a-vis Rs. 1,887 crore reported in H1 FY 2020-21. The Indian Railways' PSU posted profit growth of 51% for Q2 FY 2021-22 at Rs. 1,501 crore vis-a-vis Rs. 995 crore reported in Q2 FY 2020-21. IRFC shares closed at Rs 24.60 apiece on Monday day-end which is 1.44% higher than the Friday close.

The revenue from operations for H1 FY 2021-22 grew by 26% to stand at Rs. 9,272 Crore as against Rs. 7,383 Crore reported in H1 FY 2020-21. The revenue from operations for Q2 FY 2021-22 also grew by 26% to stand at Rs. 4,690 Crore as against Rs. 3,714 Crore reported in Q2 FY 2020-21.

Net worth at the end of Q2/H1 FY 2021-22 stands at Rs. 38,917 crore up by 23%, as against Rs. 31,687 crore reported in Q2/H1 FY 2020-21.

Total borrowings to the end of Q2/H1 FY 2021-22 stands at Rs. 3,42,697.61 crore up by 40%, as against Rs. 2,45,349.32 crore reported at the end of Q2/H1 FY 2020-21. The Assets Under Management (AUM) to end of Q2/H1 FY2021-22 stands at Rs. 3,82,172 crore.

Commenting on the financial results, IRFC CMD Amitabh Banerjee said: “The growth story of Indian Railways sector is depicted in the robust financial numbers of IRFC. As part of National Rail Plan 2030, Indian Railways is expected to create a future-ready railway system by 2030 to bring down logistics cost". "IRFC is a partner in the growth of Indian Railways and can foresee a sustained growth in revenue and profitability in the coming years, in view of IRFC financing a major portion of the CAPEX outlay of Indian Railways,” he added.

ALSO READ

The company continues to raise funds at the most competitive rates and terms both from the domestic and overseas financial markets, which has helped to keep its cost of borrowing low.

The earning per share of the company grew by 45% and the EPS of the company is at Rs. 2.30 in H1 FY 2021-22 as compared to Rs. 1.59 in H1 FY 2020-21. The Board of Directors has also approved an interim dividend of Rs. 1006.28 crore @7.7% of FV of Rs. 10/- each i.e. Rs. 0.77 per share for FY 2021-22.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)