Financial basis

Indian Railway Finance Corporation Ltd. shows unprecedented revenue and profit for fiscal year 21

Indian Railway Finance Corporation Limited (“IRFC” or the “Company”), the lending arm of the Indian railway market, posted 126% year-on-year profit growth for the fourth quarter of the fiscal year 2020-21, to settle at Rs. 1,482.55 crore versus Rs. 654.63 crore reported as of T4FY2020.

Net profit for fiscal year 2020-21 increased 38.34% to Rs. 4,416.13 crore from Rs. 3,192.06 crore for the corresponding fiscal year ended March 31, 2020. Total revenue Operating increased 17.50% year-on-year for the same period to stand at Rs. 15,770.47 crore.

The annual disbursement for IRFC increased by 46.19% year-on-year from Rs. 71,392 crore in fiscal year 2019-2020 to Rs. 1,04,369 crore in fiscal year 2020-21. Assets under management (AUM) for fiscal year 2020-21 stand at Rs. 3,60,079 crore against Rs. 2,66,137 crore recording a growth of 35.29% year-on-year.

IRFC’s capital adequacy ratio remains strong at 415.85% for fiscal year 2020-21 compared to 395.39% for fiscal year 2019-20. The Company continues to raise funds at the most competitive rates and terms in the domestic and foreign financial markets, which has helped keep its cost of borrowing low.

Corporate social responsibility remains a priority area for IRFC as the company spent Rs. 93.44 crore for fiscal year 2020-21 compared to Rs. 49.45 crore for fiscal year 2019-2020 .

Commenting on the financial results, Shri Amitabh Banerjee, President and CEO of IRFC, said: An effort to expand and modernize. There will be sustained growth in revenues and profitability going forward as a significant portion of Indian Railways’ funding requirements must be met by IRFC. “

Leave a Reply

Your email address will not be published.