IRFC Holds Its 36th Annual General Meeting; Net Profit Nears ₹6,337 Crore Mark In FY23

NEW DELHI, SEPTEMBER 23, 2023: The 36th Annual General Meeting of the Indian Railway Finance Corporation Limited (IRFC) was held under the chairmanship of Smt. Shelly Verma, Chairman and Managing Director (Additional Charge) and Director (Finance) of the company.

While addressing the AGM, Smt. Shelly Verma said: “IRFC reported a strong financial performance during the year under review, with all-time high revenue and profits. The net profit of IRFC for FY23 stood at ₹6,337.01 crore, an increase of 4.06% against ₹6,089.84 crore in the last fiscal.”

Smt. Verma further informed that the total revenue from operations grew by 17.70%, year-on-year, amounting to ₹23,891.28 crore against ₹20,298.27 crore in the last fiscal year. The company has declared a total dividend of ₹1,960.28 crore which works out to 30.93% of PAT for FY 2022-23, she added.

While addressing the shareholders during the virtual AGM, Smt. Verma informed that IRFC disbursed an amount of ₹32,392.63 crore in FY23 to the Indian Railways. The AUM for FY23 stands at ₹4,66,938 crore, registering a year-on-year growth of 8.63%. The capital adequacy ratio of IRFC continues to remain strong at 512.02% in FY23, she added.

The Annual General Meeting was attended by Smt. Uma Ranade Additional Member (Budget)/Railway Board, Representative of Hon’ble President of India; Bhaskar Choradia Government Nominee Director; Vallabhbhai Maneklal Patel Non- Official/Independent Director; Smt. Sheela Pandit Non- Official/Independent Director; Sunil Kumar Goel Group General Manager (Finance) & Chief Financial Officer; P.K. Ojha General Manager (Finance) & Chief Investor Relation Officer; Vijay Shirode Company Secretary; M/S KBDS & Co. Statutory Auditor and others. A total of 154 shareholders participated in the virtual AGM.