Indian Railway Finance Corporation Limited, Schedule ‘A’ Public Sector Enterprise (“IRFC” or the “Company”), the dedicated market borrowing arm of Indian Railways, has announced its audited financial results for the fourth quarter and financial year ended 31st March 2022. The Company posted a YoY (Year-over-Year) profit growth of 37.90% for the FY 2021-22 vis-à-vis FY 2020-21.
More details:
- In FY 2021-22, the Company reported Profit After Tax (PAT) of ₹ 6,090 crore vis-a-vis ₹ 4,416 crore reported in the previous FY 2020-21.
- The Revenue from Operations for FY 2021-22 grew by 28.71% & stands at ₹ 20,298.27 Crore, as against ₹ 15,770.22 Crore in previous FY 2020-21. The revenue from operations for Q4/FY 2022 grew by 16.39% to stand at ₹ 5,931.12 Crore as against ₹ 5,095.81 Crore reported in Q3/FY 2022.
- Net worth for the FY 2021-22, stands at ₹ 40,996.34 crore up by 14.15%, as against ₹ 35,913.38 crore reported in the FY 2020-21.
- Assets Under Management (AUM) stands at ₹ 4,15,237.68 crore as on 31st March 2022 registering a growth of 15.32%.
- The Earning Per Share (EPS) of the company is ₹ 4.66 for FY 2021-22, as compared to ₹ 3.66 for FY 2020-21 registering an increase of 27.32% YoY. The company continues to raise funds at the most competitive rates and terms, both from the domestic and overseas financial markets, which has helped to keep cost of borrowings low.
- The Board of Directors has recommended the final Dividend of ₹ 0.63 per equity share of Rs 10/- each for FY 2021-22, subject to approval of shareholders at the ensuing Annual General Meeting (AGM). This is in addition to the Interim Dividend of ₹ 0.77/- per equity share declared on 1st November 2021, thereby making total dividend for FY 2021-22 to ₹ 1.4 per share, on the face value of ₹ 10/- each.
Commenting on the financial results, Shri. Amitabh Banerjee, Chairman and Managing Director, IRFC said: “IRFC has consistently exhibited a rising and strong financial performance on the back of raising funds at the most competitive rates and at the opportune time from the domestic and international markets. Despite the hardening of interest rate in the financial market, due to diversified borrowing portfolio IRFC could achieve reduction in weighted average cost of borrowing by 10 bps as compared to previous year. IRFC is committed to its contribution to India’s resolve in developing and expanding the Infrastructure Sector with a special impetus on Railway Sector. This is amply evident from the high quantum of borrowing mandate of ₹ 66,500 for FY 2022-23 received from MoR.
- Government of India has encouraged private participation in rail projects and has approved participative models for rail connectivity and capacity augmentation projects.
- IRFC is set to expand its wings, and as per the mandate, it can finance non-Railway projects that have a backward and/or a forward linkage with the Indian Railways, which would include high-speed rails, dedicated freight corridors, station development, port development and multi-modal logistic parks.
Source: IRFC -Press Release | Image Credit (representational): MoR
