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IRFC net jumps 59% in H1 FY22

NEW DELHI: Indian Railway Finance Corporation Limited (IRFC), the dedicated market borrowing arm of the Indian Railways, posted a profit growth of 59 per cent for H1 FY 2021-22 at Rs 3,003 crore vis-a-vis

Rs 1,887 crore reported in H1

FY 2020-21. The company posted profit growth of 51 per cent for Q2 FY 2021-22 at Rs 1,501 crore vis-a-vis Rs 995 crore reported in Q2 FY 2020-21.

The revenue from operations for H1 FY 2021-22 grew by 26 per cent to stand at Rs 9,272 Crore as against Rs 7,383 Crore reported in H1 FY 2020-21. The revenue from operations for Q2 FY 2021-22 also grew by 26 per cent to stand at Rs 4,690 Crore as against Rs 3,714 Crore reported in Q2 FY 2020-21.

Net worth at the end of Q2/H1 FY 2021-22 stands at Rs 38,917 crore up by 23

per cent, as against Rs 31,687 crore reported in Q2/H1 FY 2020-21.

Total borrowings to end of Q2/H1 FY 2021-22 stands at Rs 3,42,697.61 crore up by 40 per cent, as against Rs 2,45,349.32 crore reported to end of Q2/H1 FY 2020-21. The Assets Under Management (AUM) to end of Q2/H1 FY2021-22 stands at Rs 3,82,172 crore.

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 its cost of borrowing low. The earning per share of the company grew by 45 per cent and EPS of the company is at Rs 2.30 in H1 FY 2021-22 as compared to Rs 1.59 in H1 FY 2020-21. The Board of Directors has also approved an interim dividend of Rs 1006.28 crore @7.7 per cent of FV of Rs 10/- each i.e. Rs 0.77 per share for FY 2021-22.

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