Indian Railway Finance Corporation Ltd. Net Profit for Q1 FY2022 grows by 68.42% on QoQ basis

Indian Railway Finance Corporation Limited (“IRFC” or the “Company”) the dedicated market borrowing arm of the Indian Railways posted profit growth of 68.42% on QoQ basis for Q1 FY 2021-22 at Rs.1501.95 vis a vis Rs.891.81 Crore reported in Q1 FY 2020-21.

The revenue from operations on QoQ basis for Q1 FY 2021-22 grew by 24.87% to stand at Rs. 4581.61 Crore as against Rs.3669.22 Crore reported in Q1 FY 2020-21.

Net worth at the end of Q1 FY 2021-22 stands at Rs.37,416.50 Crore up by 19.95% as against Rs.31,192.96 Crore reported in Q1 FY 2020-21. 

Total borrowings to end of Q1 FY 2021-22 stands at Rs.3,28,347.35 Crore up by 40.22% as against Rs. 2,34,165.15 Crore reported to end of Q1 FY 2020-21. The Assets Under Management (AUM) to end of Q1 FY2021-22 stands at Rs.3,66,155.16 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 keep its cost of borrowing low.

Commenting on the financial results, Shri Amitabh Banerjee, Chairman and Managing Director, IRFC, said, “The investment outlay by Indian Railways has been the main driver of growth at IRFC, as a significant portion of the funding requirement is to be met through IRFC. The consistently strong financial results of IRFC tell the tale of the immense growth in the railway infrastructure of the country. In view of the massive railway infrastructure envisaged as per National Rail Plan 2030, IRFC 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, especially over the last 6 years.”