Finance corporation

Indian Railway Finance Corporation’s 2021-2022 profit increases by 38%

Indian Railway Finance Corporation’s 2021-2022 profit increased by 38%

New Delhi:

Indian Railway Finance Corporation Limited (IRFC), the borrowing arm in the Indian Railways market, recorded a 37.90% growth in its after-tax profit on Friday to Rs 6,090 crore in 2021-2022.

In the previous financial year, the company reported profit after tax (PAT) at Rs 4,416 crore, IRFC said in a statement.

Operating income for 2021-2022 increased by 28.71% and amounted to Rs 20,298.27 crore this financial year from Rs 15,770.22 crore a year ago.

Operating revenue for the fourth quarter of 2021-2022 increased by 16.39% to reach Rs 5,931.12 crore from Rs 5,095.81 crore in the third quarter.

Net worth at the end of 2021-22 stood at Rs 41,000 crore, up 14.15%, from Rs 36,000 crore reported in 2020-21. Assets under management of the company stood at Rs 4,15,238 crore as of March 31, 2022, registering a growth of 15.32%.

The earnings per share (EPS) of the company also rose to Rs 4.66 as of March 31, 2022, from Rs 3.66 a year ago, registering an increase of 27.32%.

“The company continues to raise funds at the most competitive rates and terms, both in domestic and overseas capital markets, which has helped keep borrowing costs low,” IRFC said in a statement. communicated.

The Board has recommended the final dividend of Rs 0.63 per share with a par value of Rs 10 each for 2021-22, subject to shareholder approval at the ensuing Annual General Meeting . This is in addition to the interim dividend of Rs 0.77 per share declared on November 1, 2021, thus making a total dividend of Rs 1.40 per share.

Amitabh Banerjee, President and CEO of IRFC, said, “IRFC has consistently shown growing and strong financial performance by raising funds at the most competitive rates and at the right time in the domestic and international markets.

He further stated that the IRFC is committed to contributing to India’s determination to develop and expand the infrastructure sector with particular emphasis on the railway sector. This is amply evident from the high borrowing mandate of Rs 66,500 crore for 2022-2023 received from the Ministry of Railways.