Q2FY24: Why did this multibagger Railway stocks profit fall?

New Delhi: Indian Railway Finance Corporation Limited (IRFC) a leading public sector undertaking has reported a decline in its profit after tax for the quarter ending September 30, 2023, with figures at Rs 1,549.87 crore compared to Rs 1,714.28 crore the previous year. However, the company's revenue from operations has increased by 16 percent to reach Rs 6,766.32 crore, up from Rs 5,809.8 crore a year ago.

IRFC stock's: Dividends

In an official announcement, IRFC declared an interim dividend of Rs. 0.80 per equity share of Rs 10 each, in accordance with Regulation 30 and 43 of SEBI (LODR) Regulations, 2015. IRFC shares offered return of 222.56 percent in last 1-year.

IRFC financial performance

Looking at the stock performance, IRFC's last trading price on BSE is Rs 72.93 per share, with an intraday gain of 0.18%. The stock's 52-week high and low prices stand at Rs 92.94 per share and Rs 22.50 per share, respectively. IRFC currently holds a market capitalization of Rs 95,478.50 crore.

The stock has displayed remarkable performance over the years, with a notable rally of 84 percent in the last 3 months, a soaring gain of 117 percent in the last 6 months, a 222 percent increase in the last year, and an impressive jump of 196 percent over the past 2 years.

About IRFC stocks

Established on December 12, 1986, IRFC is a Schedule 'A' Public Sector Enterprise under the Ministry of Railways, Government of India. It is also registered as a Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-SI) and an Infrastructure Finance Company (NBFC-IFC) with the Reserve Bank of India (RBI). In its more than 30 years of existence, IRFC has played a crucial role in supporting the expansion of the Indian Railways and related entities by financing a significant portion of its annual plan outlay, as stated on its official website.

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