Earnings Review
Despite fall in interest income, IRFC's PAT rises marginally
This story was originally published at 16:46 IST on 20 January 2025
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--IRFC Apr-Dec revenue INR 204.28 bln vs INR 201.71 bln year ago
--IRFC Apr-Dec net profit INR 48.20 bln vs INR 46.95 bln year ago
--IRFC Oct-Dec finance costs INR 50.95 bln vs INR 51.04 bln year ago
--IRFC Oct-Dec revenue INR 67.63 bln vs INR 67.37 bln year ago
--IRFC Oct-Dec net profit INR 16.31 bln vs INR 15.99 bln year ago
By Sagar Sen
NEW DELHI – Indian Railway Finance Corp. Ltd. Monday reported a marginal growth in net profit for the December quarter, mainly on the back of modest growth in lease income. The net profit for Oct-Dec increased 2.0% on year to INR 16.31 billion. The company's interest income, however, declined compared to the corresponding period last year, thereby impacting the lender's bottom line.
Sequentially as well, the net profit was up only 1.0% in Oct-Dec. In Jul-Sept, the company had reported a 4.4% on-year rise in net profit to INR 16.13 billion as interest income had declined 13.4% on year to INR 19.21 billion.
The lease income during the December quarter was INR 47.53 billion, up 8.0% on year. While the lease income was higher, the company's lower interest income led to the total revenue from operations increasing just 0.4% on year to INR 67.63 billion. During the reporting quarter, the company earned other income of INR 29.6 million.
On the expenditure side, finance costs - the largest expense for the company - decreased 0.2% on year to INR 50.95 billion in Oct-Dec. The company reported a total expenditure of INR 51.36 billion in Oct-Dec, a fall of 0.1% on year.
During Apr-Dec, the net profit rose 2.7% on year to INR 48.20 billion. Total revenue from operations was INR 204.28 billion, up 1.3% on year, while total expenses increased 0.8% to INR 156.12 billion.
On Monday, shares of the company ended 0.4% higher at INR 146.70 on the National Stock Exchange. End
Edited by Tanima Banerjee
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