Indian Railway Finance Corporation Limited (IRFC) reported a net profit of Rs 6,337.01 crore for fiscal year 2023, a company statement on September 22 said.
Indian Railway Finance Corporation Limited (IRFC) reported a net profit of Rs 6,337.01 crore for financial year 2023, an increase of more than four per cent compared to the previous year. At the Annual General Meeting, IRFC Chairman and Managing Director Shelley Verma said the company reported a total income from operations of Rs 23,891.28 crore, which was up year-on-year compared to the previous financial year, a company statement on September 22 said. There is an increase of 17.70 percent year on year.
Dividend of ₹1960.28 crore
He said that the company has declared a total dividend of Rs 1,960.28 crore, which is 30.93 percent of the profit for the financial year 2022-23. Verma said that IRFC distributed an amount of Rs 32,392.63 crore to Indian Railways in FY 2023. Assets under management for FY23 is Rs 4,66,938 crore, registering a growth of 8.63 per cent year-on-year. He said that the capital adequacy ratio of IRFC remains strong at 512.02 percent in FY 2013.
There was a rise in the company’s shares today which closed at 74.85 with a rise of 0.54 percent. The market cap of IRFC is around ₹98,144 crore. The stock’s 52-week high is ₹92.94, while its 52-week low is ₹20.55.
In the June 2023 quarter, promoters’ stake in the company remained unchanged at 86.36 percent. In the June 2023 quarter, the mutual fund has reduced its holdings from 1.37 percent to 0.77 percent. Whereas during this period FII/FPI have reduced their holdings from 1.15 percent to 1.14 percent.