Indian Railway Finance Corporation net profit approaches Rs 6,100 in FY22

Indian Railway Finance Corporation (IRFC) Limited’s net profit for the financial year 2021-22 was Rs 6,089.84 crore, an increase of 37.89% from Rs 4,416.13 crore in the last fiscal year, the company announced on Friday.

The 35th Annual General Meeting of IRFC was held on Friday under the chairmanship of its President and CEO, Amitabh Banerjee.

Addressing the AGM, Banerjee said, “IRFC had a strong financial performance during the year under review, with record revenues and profits. IRFC’s net profit for the fiscal 22 amounted to Rs 6,089.84 crore, an increase of 37.89 percent from Rs 4,416.13 crore in the last fiscal year.”

Banerjee further informed that total revenue from operations increased by 28.71% year-on-year to Rs 20,298.27 crore from Rs 15,770.22 crore last year. exercise. The company has declared a total dividend of Rs 1,829.59 crore, which equates to 30.04% of profit after tax (PAT) for FY22, it added.

Addressing shareholders at the virtual AGM, Banerjee said IRFC disbursed an amount of Rs 60,683.41 crore in FY22 to Indian Railways. Assets Under Management (AUM) for FY22 stands at Rs 4,29,851 crore, recording an annual growth of 16.03%.

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

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