IRFC posts 59% jump in net profit in H1 FY 2021-22

Sarkaritel
By Sarkaritel November 1, 2021 21:52

IRFC posts 59% jump in net profit in H1 FY 2021-22


 IRFC posted profit growth of 59% at Rs. 3,003 crore for the H1 FY 2021-22 from Rs. 1,887 crore for the corresponding period in the previous year.

· The company’s total revenue registered an increase of 26% for the H1 of FY 2021-22 from Rs. 7,383 crore to Rs. 9,272 crore.

· IRFC posted profit growth of 51 % at Rs. 1501 crore for the Q2 FY 2021-22 from Rs. 995 crore for the corresponding period in the previous year.

· IRFC’s total revenue registered an increase of 26 % for the Q2 of FY 2021-22 from Rs. 3,714 crore to Rs. 4,690 crore.

NEW DELHI, 01 NOVEMBER, 2021: Indian Railway Finance Corporation Limited (“IRFC” or the “Company”), the dedicated market borrowing arm of the Indian Railways, posted a profit growth of 59% for H1 FY 2021-22 at Rs. 3,003 crore vis-a-vis Rs. 1,887 crore reported in H1 FY 2020-21.

The company posted profit growth of 51% for Q2 FY 2021-22 at Rs. 1,501 crore vis-a-vis Rs. 995 crore reported in Q2 FY 2020-21.

The revenue from operations for H1 FY 2021-22 grew by 26% to stand at Rs. 9,272 Crore as against Rs. 7,383 Crore reported in H1 FY 2020-21. The revenue from operations for Q2 FY 2021-22 also grew by 26% to stand at Rs. 4,690 Crore as against Rs. 3,714 Crore reported in Q2 FY 2020-21.

Net worth at the end of Q2/H1 FY 2021-22 stands at Rs. 38,917 crore up by 23%, as against Rs. 31,687 crore reported in Q2/H1 FY 2020-21.

Total borrowings to end of Q2/H1 FY 2021-22 stands at Rs. 3,42,697.61 crore up by 40%, as against Rs. 2,45,349.32 crore reported to end of Q2/H1 FY 2020-21. The Assets Under Management (AUM) to end of Q2/H1 FY2021-22 stands at Rs. 3,82,172 crore.

The company continues to raise funds at the most competitive rates and terms both from the domestic and overseas financial markets, which has helped to keep its cost of borrowing low.

The earning per share of the company grew by 45% and EPS of the company is at Rs. 2.30 in H1 FY 2021-22 as compared to Rs. 1.59 in H1 FY 2020-21. The Board of Directors has also approved an interim dividend of Rs. 1006.28 crore @7.7% of FV of Rs. 10/- each i.e. Rs. 0.77 per share for FY 2021-22.

Commenting on the financial results, Shri. Amitabh Banerjee, Chairman and Managing Director said: “The growth story of Indian Railways sector is depicted in the robust financial numbers of IRFC. As part of National Rail Plan 2030, Indian Railways is expected to create a future-ready railway system by 2030 to bring down logistics cost. IRFC is partner in growth of Indian Railways and can foresee a sustained growth in revenue and profitability in the coming years, in view of IRFC financing a major portion of the CAPEX outlay of Indian Railways.”

Sarkaritel
By Sarkaritel November 1, 2021 21:52