New Delhi:
According to recent filings with the BSE, Indian Railway Finance Corporation Limited (IRFC) witnessed a substantial surge in profit during the fourth quarter of the financial year 2023-24.
The company’s profit increased by 34 percent to Rs 1,717.32 crore, compared to Rs 1,285.24 crore in the corresponding quarter of the previous year.
Moreover, the company’s revenue witnessed a moderate rise of 1.73 percent, reaching Rs 6,473 crore in the March quarter, as opposed to Rs 6,193 crore recorded in the same period last year.
Steady Revenue Growth
Revenue for the Miniratna Railway PSU also displayed resilience, registering a 1.73 percent increase to Rs 6,473 crore in the March quarter, compared to Rs 6,193 crore in the same period last year.
This steady growth reflects the company’s ongoing financial stability and performance.
Resource Expansion Plan
Furthermore, IRFC’s board has granted authorization to raise funds amounting to ₹50,000 crore from both domestic and international markets for the fiscal year 2024-25.
This strategic move indicates the company’s intent to bolster its financial resources for future endeavors and expansion initiatives.
IRFC Dividend Declaration
Rewarding Shareholders
In a move to reward its shareholders, IRFC has announced a final dividend for the financial year 2023-24.
The railway PSU has proposed a final dividend of ₹0.70 per equity share of ₹10 for the financial year 2023-24.
The company has recommended a dividend of ₹0.70 per equity share of ₹10. This decision underscores IRFC’s commitment to delivering value to its shareholders.
Strategic Financial Moves: Raising Resources for Growth
Ambitious Expansion Plans
Looking ahead, IRFC is poised for expansion and growth.
The company’s board has approved a plan to raise resources amounting to ₹50,000 crore from both domestic and international markets for the fiscal year 2024-25.
This strategic move reflects IRFC’s proactive approach towards securing the necessary funds to fuel its ambitious growth initiatives.
