Indian Railway Finance Corporation Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

Indian Railway Finance Corporation announced the appointment of Abhishek Kumar, Executive Director Finance (Budget), Railway Board, as Part- time Government Director as Government Nominee Director on Board of the company.

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Total revenue from operations grew by 4.51% year on year (YoY) to Rs 6,473.12 crore in the quarter ended 31 March 2024.

On full year basis, the company's net profit rose 3.97% to Rs 6,412.10 crore on 12.32% rise in revenue to Rs 26,644.58 crore in FY24 over FY23.

Meanwhile, the board recommended a final dividend of Rs 0.70 per equity share for the financial year 2023-24, subject to approval of shareholders.

Further, the board has approved raising funds for the financial year 2024–25 up to Rs 50,000 crore from both domestic and international markets. The funds would be raised through a prudent mix of tax-free bonds and taxable bonds on a private placement or public issue basis, including capital gain bonds, government-guaranteed bonds, and government serviced bonds.

Indian Railway Finance Corp. principal business is to borrow funds from the financial markets to finance. The Government of India held 86.36% stake in the company as on 31 March 2024.

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Net profit of Indian Railway Finance Corporation rose 33.62% to Rs 1717.32 crore in the quarter ended March 2024 as against Rs 1285.24 crore during the previous quarter ended March 2023. Sales rose 4.51% to Rs 6473.56 crore in the quarter ended March 2024 as against Rs 6194.02 crore during the previous quarter ended March 2023.

For the full year,net profit rose 3.97% to Rs 6412.10 crore in the year ended March 2024 as against Rs 6167.16 crore during the previous year ended March 2023. Sales rose 12.32% to Rs 26645.36 crore in the year ended March 2024 as against Rs 23721.97 crore during the previous year ended March 2023.

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Indian Railway Finance Corp. announced that the Board of Directors of the Company at its meeting held on 20 May 2024, inter alia, have recommended the final dividend of Rs 0.7 per equity Share (i.e. 7%) , subject to the approval of the shareholders.

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