IRFC holds its 36th Annual General Meeting, net profit nears Rs 6,337.01 crore mark in FY23

NEW DELHI: The 36th Annual General Meeting of the Indian Railway Finance Corporation Limited (IRFC) was held under the chairmanship of Shelly Verma, Chairman and Managing Director (Additional Charge) and Director (Finance) of the company.

While addressing the AGM, Shelly Verma said: “IRFC reported a strong financial performance during the year under review, with all-time high revenue and profits. The net profit of IRFC for FY23 stood at Rs 6,337.01 crore, an increase of 4.06 per cent against Rs 6,089.84 crore in the last fiscal.”

Verma further informed that the total revenue from operations grew by 17.70 per cent, year-on-year, amounting to Rs 23,891.28 crore against Rs 20,298.27 crore in the last fiscal year. The company has declared a total dividend of Rs 1,960.28 crore which works out to 30.93 per cent of PAT for FY 2022-23, she added.

While addressing the shareholders during the virtual AGM, Verma informed that IRFC disbursed an amount of Rs 32,392.63 crore in FY23 to the Indian Railways. The AUM for FY23 stands at Rs 4,66,938 crore, registering a year-on-year growth of 8.63 per cent. The capital adequacy ratio of IRFC continues to remain strong at 512.02 per cent in FY23, she added.

The Annual General Meeting was attended by Uma Ranade Additional Member (Budget)/Railway Board, Representative of President of India; Bhaskar Choradia Government Nominee Director; Vallabhbhai Maneklal Patel Non- Official/Independent Director; Sheela Pandit Non- Official/Independent Director; Sunil Kumar Goel Group General Manager (Finance) & Chief Financial Officer; P K Ojha General Manager (Finance) & Chief Investor Relation Officer; Vijay Shirode Company Secretary; M/S KBDS & Co. Statutory Auditor and others. A total of 154 shareholders participated in the

virtual AGM.