Indian Railway Finance Corporation Ltd (IRFC) reported a 2% rise in its net profit for the third quarter ended December 2024, reaching Rs 1,631 crore, compared to Rs 1,599 crore in the same period last year.
The non-banking financial company (NBFC), which operates under the administrative control of the Ministry of Railways, saw its total income increase to Rs 6,766 crore in the October-December 2024 quarter, up from Rs 6,740 crore in the previous year. Its total expenses, however, saw a marginal decline, falling to Rs 5,136 crore from Rs 5,141 crore during the same period last year.
IRFC’s net worth grew to Rs 52,046 crore by the end of December 2024, up from Rs 47,443 crore at the close of the third quarter of the previous fiscal year. Additionally, the company raised Rs 6,600 crore through bond issuance during the quarter to support its ongoing business expansion.
Indian Railway Finance Corporation Ltd (IRFC) is a public sector financial company under the Ministry of Railways, primarily engaged in raising funds for the development of Indian Railways. It provides financial assistance for the purchase of rolling stock, locomotives, and other railway infrastructure.
