IRFC posts 126% jump in fourth quarter net profit at Rs 1,483 crore

This compares to Rs 655 crore reported in the same period of previous fiscal.

Indian Railway Finance Corporation (IRFC) on Wednesday reported 126 per cent growth in the profit for Q4 FY21 at Rs 1,483 crore as compared to Rs 655 crore reported in the same period of previous fiscal.

The net profit for FY21 grew by 38 per cent to Rs 4,416 crore as against Rs 3,192 crore for FY20. Total revenue from operations grew by 17 per cent to Rs 15,770 crore.

Annual disbursements of IRFC grew by 46 per cent from Rs 71,392 crore in FY20 to Rs 1.04 lakh crore in FY21. Assets under management stood at Rs 3.6 lakh crore as against Rs 2.6 lakh crore, registering a growth of 35 per cent.

Capital adequacy ratio continues to be strong at 416 per cent. The company continues to raise funds at competitive rates, and terms both from domestic and overseas financial markets has helped to keep its cost of borrowing low.

Chairman and Managing Director Amitabh Banerjee said IRFC continues to show strong growth momentum both in terms of revenue and profit driven by massive investment outlay of Indian Railways which is on an expansion and modernisation drive.

"There will be sustained growth in revenue and profitability going forward as a major portion of the funding requirement of Indian Railways is to be met through IRFC," he said.