आईआरएफसी Q4 परिणाम: शुद्ध लाभ 34% बढ़कर ₹1,717 करोड़ हो गया, ₹0.70 का लाभांश घोषित किया गया

आईआरएफसी Q4 परिणाम: शुद्ध लाभ 34% बढ़कर ₹1,717 करोड़ हो गया, ₹0.70 का लाभांश घोषित किया गया

IRFC Q4 results: Net profit rises 34% to ₹1,717 crore, declares dividend of ₹0.70

Indian Railway Finance Corporation (IRFC) reports Q4 2024 financials, showing rise in net profit, revenue; recommends dividend; plans ₹50,000 crore resource raising; stock gains.

  • Business
  • 76
  • 20, May, 2024
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Sampda Gupta
  • @SampdaGupta

IRFC Q4 results: Net profit rises 34% to ₹1,717 crore, declares dividend of ₹0.70

Indian Railway Finance Corporation (IRFC) has unveiled its financial results for the quarter ending March 31, 2024. The company has demonstrated substantial growth in various aspects, reflecting its resilience and strategic initiatives amidst a dynamic economic landscape. In a notable development, IRFC has recorded a significant year-on-year (YoY) increase in net profit, marking a commendable rise of 33.6 percent. The net profit surged to ₹1,717 crore as compared to ₹1,285 crore in the corresponding period last year. This growth underscores the company's adept financial management and operational efficiency, positioning it as a formidable player in the financial sector. Furthermore, IRFC's total revenue from operations for the March quarter has witnessed a steady uptick, ascending by 1.73 percent. The revenue reached ₹6,473 crore, reflecting sustained revenue generation capabilities and effective business strategies. This growth trajectory underscores the company's ability to navigate through economic fluctuations and capitalize on emerging opportunities. Additionally, IRFC has declared its financial performance for the fiscal year 2023-24, showcasing a robust performance throughout the year. The net profit for the fiscal year stood at ₹6,412 crore, compared to ₹6,167 crore in the previous fiscal year. This consistent profitability reaffirms IRFC's strong fundamentals and prudent financial management practices. In a move to reward its shareholders, IRFC has recommended a final dividend of ₹0.70 per equity share of ₹10 for the financial year 2023-24. This dividend distribution reflects the company's commitment to delivering value to its shareholders and underlines its confidence in sustained growth prospects. Moreover, IRFC has unveiled plans to raise resources for the financial year 2024-25, signaling its proactive approach towards capital mobilization and expansion. The company aims to raise up to ₹50,000 crores from domestic and international markets through a strategic mix of instruments, including bonds, loans, and institutional financing. This initiative underscores IRFC's proactive stance in leveraging diverse funding sources to support its growth trajectory and meet evolving market demands.

The market response to IRFC's performance has been overwhelmingly positive, with the company's stock witnessing a notable surge. IRFC shares registered a remarkable gain of over 10 percent, closing at ₹173 per share. This surge reflects investor confidence in the company's prospects and its ability to deliver sustainable returns. Over the past six months, IRFC shares have surged by over 125.50 percent, underscoring its strong performance and market appeal. In conclusion, IRFC's financial results for the quarter ending March 31, 2024, underscore its resilience, profitability, and strategic vision. The company's robust performance, dividend distribution, and capital mobilization initiatives position it as a key player in the financial sector, poised for continued growth and value creation in the future.

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Sampda Gupta

  • @SampdaGupta