Indian Railway Finance Corporation Ltd. (IRFC) reported a 4% year-on-year rise in net profit for the September quarter, reaching ₹1,613 crore, compared to ₹1,545 crore in the same period last year. The non-banking financial company, which operates under the Ministry of Railways, also saw an increase in total income, which climbed to ₹6,900 crore from last year’s ₹6,762 crore, according to a regulatory filing.
IRFC’s expenses showed a slight rise, reaching ₹5,288 crore from ₹5,218 crore in the previous year’s quarter. The company’s assets under management (AUM) stood at ₹4.62 lakh crore as of September 2024. Alongside the quarterly results, the IRFC board approved an interim dividend of ₹0.80 per share on a ₹10 face value for the 2024-25 fiscal year.
Chairman and Managing Director Manoj Kumar Dubey highlighted that IRFC remains focused on bolstering the financial framework for railway infrastructure and is working toward expanding its lending activities to support sectors closely linked to Indian Railways. Additionally, IRFC has sanctioned ₹700 crore in funding for NTPC Ltd. under a finance lease arrangement, covering 20 rakes under the Ministry of Railways’ General-Purpose Wagon Investment Scheme (GPWIS), as part of its efforts to support railway-linked projects.
