Companies

IRFC net profit surged to all-time high of over Rs 6000 crore

Our Bureau | | Updated on: May 23, 2022
Amitabh Banerjee, Chairman and Managing Director of IRFC

Amitabh Banerjee, Chairman and Managing Director of IRFC

Indian Railway Finance Corporation declares dividend of Re 0.63/share

Indian Railway Finance Corporation (IRFC), the dedicated market borrowing arm of Indian Railways, has reported highest over net profit of over Rs 6000 crore during fiscal year 2021-22. The company has also declared dividend at the rate of Re 0.63 for each of the equity share with a face value of Rs 10.

The company said it earned Profit after Tax (PAT) of Rs. 6,090 crore for FY 2021-22 as against Rs. 4,416 crore reported in the previous FY 2020-21. This shows a growth of 38 per cent. Commenting on the financial results, Amitabh Banerjee, Chairman and Managing Director of IRFC said, “The company has consistently exhibited a rising and strong financial performance on the back of raising funds at the most competitive rates and at the opportune time from the domestic and international markets.”

He further said that IRFC is committed to its contribution to India’s resolve in developing and expanding the Infrastructure Sector with a special impetus on Railway Sector. This is amply evident from the high quantum of borrowing mandate of Rs. 66,500 for FY 2022-23 received from the Ministry of Railways, he added.

With an interim dividend of Re 0.77 per share, announced in November, and the latest announcement of Re 0.63, the total dividend for FY 22 has gone up to Rs 1.40 per share on face value of Rs 10. Payment of dividends is subject to approval of shareholders at the ensuing Annual General Meeting (AGM).

The revenue from operations for FY22 grew by 28.71 per cent and stood at Rs. 20,298.27 Crore, as against Rs. 15,770.22 Crore in previous FY 2020-21. The net worth to the end of FY 2021-22, stands at Rs. 41,000 crore up by 14.15 per cent, as against Rs. 36,000 crore reported in FY 2020-21. The Assets Under Management (AUM) of the company stands at Rs. 4,15,238 crore as on 31st March 2022 registering a growth of 15.32 per cent.

The Earning Per Share (EPS) of the company has gone up to Rs. 4.66 as on 31st March, 2022, as compared to Rs. 3.66 as on 31st March, 2021 registering an increase of 27.32 per cent YoY. “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 cost of borrowings low,” a statement issued by the company said.

Published on May 22, 2022
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