New Delhi (01.07.2021): Indian Railway Finance Corporation (IRFC) profit soared 126% YoY for 4QFY21 to ₹1,482.55 crores vs. ₹654.63 crores reported in 4Q4FY20. This made the net profit for FY21 jump 38.34% to ₹4,416.13 Crores versus ₹ 3,192.06 Crores for the corresponding financial year ended 31 March 2020. The total revenue from operation grew 17.50% YoY for the same period to ₹15,770.47 Crores. The annual disbursement grew by 46.19% YoY from ₹71,392 crores in FY20 to ₹1,04,369 crore FY21. The Assets Under Management (AUM) for FY21 stands at ₹3,60,079 crores ₹2,66,137 crores, registering a growth of 35.29% YoY. The capital adequacy ratio of IRFC continues to remain strong at 415.85% for FY21 against 395.39% for FY20. The Company continues to raise funds at the most competitive rates and terms both from the domestic and overseas financial markets which have helped it to keep its cost of borrowing low. IRFC spent ₹93.44 crores on CSR projects in FY21 compared to ₹49.45 crores in FY20. Commenting on the financial results, Amitabh Banerjee, Chairman and Managing Director, said: “IRFC continued to show strong growth momentum both in terms of revenue and profit during the financial year driven by the massive investment outlay of Indian Railways which is on an expansion and modernization drive. There will be sustained growth in revenue and profitability going forward as a major portion of the funding requirement of Indian Railways is to be met through IRFC.”
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IRFC profits soar 126%; CSR spending almost doubles
By IndianMandarins - 2021-07-01 08:13:00
New Delhi (01.07.2021): Indian Railway Finance Corporation (IRFC) profit soared 126% YoY for 4QFY21 to ₹1,482.55 crores vs. ₹654.63 crores reported in 4Q4FY20.
This made the net profit for FY21 jump 38.34% to ₹4,416.13 Crores versus ₹ 3,192.06 Crores for the corresponding financial year ended 31 March 2020. The total revenue from operation grew 17.50% YoY for the same period to ₹15,770.47 Crores.
The annual disbursement grew by 46.19% YoY from ₹71,392 crores in FY20 to ₹1,04,369 crore FY21. The Assets Under Management (AUM) for FY21 stands at ₹3,60,079 crores ₹2,66,137 crores, registering a growth of 35.29% YoY.
The capital adequacy ratio of IRFC continues to remain strong at 415.85% for FY21 against 395.39% for FY20. The Company continues to raise funds at the most competitive rates and terms both from the domestic and overseas financial markets which have helped it to keep its cost of borrowing low.
IRFC spent ₹93.44 crores on CSR projects in FY21 compared to ₹49.45 crores in FY20.
Commenting on the financial results, Amitabh Banerjee, Chairman and Managing Director, said: “IRFC continued to show strong growth momentum both in terms of revenue and profit during the financial year driven by the massive investment outlay of Indian Railways which is on an expansion and modernization drive. There will be sustained growth in revenue and profitability going forward as a major portion of the funding requirement of Indian Railways is to be met through IRFC.”
