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Indian Railway Finance Corporation’s net profit nears Rs 6,100 cr in FY22

The net profit of the Indian Railway Finance Corporation (IRFC) Limited for the financial year 2021-22 stood at Rs 6,089.84 crore, an increase of 37.89 per cent against Rs 4,416.13 crore in the last fiscal, the company said on Friday.

The 35th annual general meeting of the IRFC was held under the chairmanship of its Chairman and Managing Director, Amitabh Banerjee, on Friday.

Addressing the AGM, Banerjee said, “The IRFC reported a strong financial performance during the year under review, with all-time high revenue and profits. The net profit of the IRFC for FY22 stood at Rs 6,089.84 crore, an increase of 37.89 per cent against Rs 4,416.13 crore in the last fiscal.”

Banerjee further informed that the total revenue from operations grew by 28.71 per cent year-on-year, amounting to Rs 20,298.27 crore, against Rs 15,770.22 crore in the last fiscal. The company has declared a total dividend of Rs 1,829.59 crore, which works out to 30.04 per cent of the profit after tax (PAT) for FY22, he added.

Addressing the shareholders during the virtual AGM, Banerjee said the IRFC disbursed an amount of Rs 60,683.41 crore in FY22 to the Indian Railways. The assets under management (AUM) for FY22 stands at Rs 4,29,851 crore, registering a year-on-year growth of 16.03 per cent.

Banerjee informed that the capital adequacy ratio of the IRFC continues to remain strong at 439.73 per cent in FY22. The total capital outlay (capital expenditure) of the Ministry of Railways (MoR) for 2021-22 was Rs 1.9 lakh crore, of which the IRFC’s disbursement against the same was significant at Rs 60,683.41 crore, which constituted 31.4 per cent of the total capital outlay for 2021-22.

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