New Delhi: Indian Railway Finance Corporation Limited (IRFC) reported a 10.2% year-on-year increase in net profit to ₹1,958.48 crore for the second quarter of FY 2026-27 (Q2 FY27), compared with ₹1,776.98 crore in the corresponding quarter of the previous financial year.
The company’s Board of Directors approved the unaudited standalone financial results for the quarter and half-year ended September 30, 2026, at a meeting held on October 15, 2026.
Alongside the quarterly results, the Board declared an interim dividend of ₹1.15 per equity share for FY 2026-27 and fixed October 23, 2026, as the record date for determining eligible shareholders.
IRFC Q2 FY27 Financial Results
IRFC recorded growth in revenue and profitability during the July-September quarter of FY27. Total revenue from operations increased to ₹7,866.41 crore, up 23.5% from ₹6,371.89 crore in Q2 FY26.
The company’s total income rose 24.4% year-on-year to ₹7,924.46 crore from ₹6,371.91 crore in the corresponding quarter last year.
However, finance costs and total expenses also increased during the quarter.
Key Financial Highlights for Q2 FY27
- Total revenue from operations: ₹7,866.41 crore, up 23.5% year-on-year.
- Total income: ₹7,924.46 crore, up 24.4%.
- Finance costs: ₹5,917.08 crore, compared with ₹4,544.42 crore in Q2 FY26, an increase of 30.2%.
- Total expenses: ₹5,965.98 crore, up 29.8% from ₹4,594.93 crore.
- Profit before tax (PBT): ₹1,958.48 crore, up 10.2% from ₹1,776.98 crore.
- Net profit: ₹1,958.48 crore, compared with ₹1,776.98 crore in the year-ago quarter.
- Basic earnings per share (EPS): ₹1.50, compared with ₹1.36 in Q2 FY26.
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IRFC H1 FY27 Net Profit Reaches ₹3,886 Crore
IRFC also reported a strong performance for the first half of FY 2026-27, covering the period from April to September 2026.
Revenue from operations for H1 FY27 stood at ₹16,127.52 crore. Net profit increased to ₹3,885.69 crore, compared with ₹3,522.67 crore in the corresponding period of FY26.
The year-on-year increase in half-year net profit reflects continued growth in the company’s earnings during the first six months of the financial year.
IRFC Declares ₹1.15 Interim Dividend; Record Date October 23
The IRFC Board has declared an interim dividend of ₹1.15 per equity share with a face value of ₹10 for the financial year 2026-27.
The key dividend details are as follows:
- Interim dividend: ₹1.15 per equity share.
- Face value: ₹10 per share.
- Record date: Friday, October 23, 2026.
- Payment timeline: The dividend will be paid within 30 days from the date of declaration.
Shareholders eligible under the applicable record-date requirements will be entitled to receive the interim dividend.
IRFC Net Worth Reaches Record ₹60,573 Crore
IRFC’s net worth reached a record ₹60,573.35 crore as of September 30, 2026, compared with ₹56,748.76 crore as of March 31, 2026.
The increase highlights the company’s strengthened net worth position during the first half of FY27.
The company also reported a Net Interest Margin (NIM) of 1.50% on an annualised basis for Q2 FY27.
Board Approves NBFC Upper Layer Regulatory Transition Policy
Apart from approving the financial results and interim dividend, the IRFC Board approved a policy for transitioning to the Non-Banking Financial Company (NBFC) Upper Layer regulatory framework.
The meeting commenced at 1:50 p.m. on October 15, 2026, and concluded at 3:10 p.m.
The company also stated that its financial statements for FY 2025-26 received no comments from the Comptroller and Auditor General of India (CAG).
Management Commentary on IRFC’s Performance
Manoj Kumar Dubey, Chairman and Managing Director of IRFC, said the company’s railway-centric diversification strategy was yielding positive results.
He noted that growing contributions from railway-linked businesses beyond Indian Railways were supporting improvements in margins and profit after tax (PAT).
The management’s comments underline the company’s efforts to diversify its business while continuing to focus on the railway sector.
About Indian Railway Finance Corporation (IRFC)
Indian Railway Finance Corporation Limited (IRFC) is a public sector enterprise under the Ministry of Railways, Government of India. It serves as the dedicated financing arm of Indian Railways, raising funds from domestic and international markets to finance the acquisition of rolling stock and railway infrastructure assets. The company supports the expansion and modernisation of India’s railway network through its financing activities.
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