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India: Indian Railway Finance Corporation Limited (“IRFC” or the “Company”) the dedicated market borrowing arm of the Indian Railways posted profit growth of 126% on YoY basis for Q4 FY 2020-21 to stand at Rs. 1,482.55 crore vs. Rs. 654.63 crore reported in Q4FY2020.
The net profit for FY2020-21 grew by 38.34% to Rs. 4,416.13 Crore as against Rs. 3,192.06 Crore for the corresponding financial year ended 31st March, 2020. The total revenue from operation grew by 17.50% on YoY basis for the same period to stand at Rs. 15,770.47 Crore.
The annual disbursement for IRFC grew by 46.19% on YoY basis from Rs. 71,392 crore in FY 2019-20 to Rs. 1,04,369 crore for the FY 2020-21. The Assets Under Management (AUM) for FY2020-21 stands at Rs. 3,60,079 crore as against Rs. 2,66,137 crore registering a growth of 35.29% on YoY basis.
The capital adequacy ratio of IRFC continues to remain strong at 415.85% for FY 2020-21 as against 395.39% for FY 2019-20. 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.
Corporate Social Responsibility remains to be a focal area for IRFC as the company spent Rs. 93.44 crore for FY 2020-21 as compared to Rs. 49.45 crore for FY 2019-20.
Commenting on the financial results, Shri Amitabh Banerjee, Chairman and Managing Director, IRFC, said, “IRFC continued to show strong growth momentum both in terms of revenue and profit during the financial year driven by the massive investment outlay of Indian Railways which is on an expansion and modernization drive. There will be sustained growth in revenue and profitability going forward as a major portion of the funding requirement of Indian Railways is to be met through IRFC.”
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