The net profit of Indian Railway Finance Corporation Ltd (IRFC) jumped 15.4 per cent to Rs 1,046.74 crore in quarter ended 31 December, 2020 as compared to Rs 907.04 crore during the corresponding quarter of FY2019-20.
The total revenue from operations from the first nine months of the current fiscal grew by 10.76 per cent on a year-on-year (YoY) basis at Rs 11,315.51 crore.
Its total revenue from operations grew by 8 per cent to Rs 3,932.38 crore during the quarter under review, company’s data showed.
Company’s net profit for the April-December period rose by 15.65 per cent to Rs 2,934 crore. The company had reported a net profit of Rs 2,537 crore for the corresponding nine months in the previous fiscal.
The Board of Directors of IRFC has declared an interim dividend of Rs 1,380 crore translating to Rs 1.05 per share for the financial year 2020-21, on a face value of Rs 10 per equity share.
“The Assets Under Management (AUM) is set to cross Rs. 3.75 trillion at the end of the current fiscal, registering a Compounded Annual Growth Rate (CAGR) of around 30 per cent over the last five years,” IRFC said.
Amitabh Banerjee, Chairman and Managing Director, IRFC, said: “The massive investment plan that Indian Railways has drawn for the growth, expansion and modernization of Indian Rail System in the current decade and the fact that a significant portion of the funding requirement is to be met through IRFC, there will be a sustained growth in revenue and profitability in future.”
“This can be substantiated by the results which we have witnessed for the 9M FY2021 results. We are also happy to announce a dividend of Rs. 1.05 per share to our shareholders,” he said.