Latest News | IRFC Profit Rises 11 Pc to Rs 1,746 Cr in Jun Qtr
Get latest articles and stories on Latest News at LatestLY. Indian Railway Finance Corporation (IRFC) Ltd on Tuesday reported an 11 per cent growth in net profit to Rs 1,746 crore for the first quarter of the current financial year.
New Delhi, Jul 22 (PTI) Indian Railway Finance Corporation (IRFC) Ltd on Tuesday reported an 11 per cent growth in net profit to Rs 1,746 crore for the first quarter of the current financial year.
The NBFC, under the administrative control of the Ministry of Railways, had earned a net profit of Rs 1,577 crore in the year-ago period.
The total income of the company rose to Rs 6,918 crore in the April-June period from Rs 6,766 crore a year ago, IRFC said in a regulatory filing.
The total expenses of the mini-ratna company during the period under review fell marginally to Rs 5,173 crore from Rs 5,189 crore in the corresponding period of FY25.
Net interest margin improved to 1.53 per cent (annualised), the best in the last three years, reflecting stronger lending spreads and tighter cost management, it said.
The firm also reported a book value of Rs 41.65 per share, it said, adding that IRFC's net worth now stands at Rs 54,423.96 crore, marking the highest level recorded since its inception.
"Our performance this quarter reflects the robustness of IRFC's financial strategy and its critical role in advancing the infrastructure goals of Indian Railways," Manoj Kumar Dubey, Chairman and Managing Director of IRFC, said.
As the sector undergoes unprecedented transformation, we are committed to driving financial innovation and maintaining operational excellence, he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)