- By Aditya Pratap Singh
- Mon, 20 May 2024 07:24 PM (IST)
- Source:PTI
Indian Railway Finance Corporation (IRFC) Ltd announced on Monday that its profit for the March 2024 quarter increased by 34% to Rs 1,717.3 crore, owing to higher income. In a regulatory filing, the state-run corporation said it made a profit of Rs 1,285.2 crore in the previous fiscal's fourth quarter. The company's overall income climbed to Rs 6,477.9 crore in the January-March quarter from Rs 6,230.2 crore in FY23.
Its expenditure for the review period stood at Rs 4,760.6 crore, up from Rs 4,945 crore a year ago. Furthermore, the company's board has approved a final dividend of 70 paise per share for the fiscal year 2023-24. The board of directors has also approved raising resources to Rs 50,000 crore from both domestic and international markets for the fiscal year 2024-25.
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This will be raised through a judicious mix of tax-exempt bonds, and taxable bonds based on the private placement or public issue, which includes capital gains bonds, government-guaranteed bonds, and government-serviced bonds.
Under the Ministry of Railways, IRFC's primary goal is to satisfy the majority of Indian Railways' Extra Budgetary Resources (EBR) requirements through market borrowings at the most competitive rates and terms.
(With PTI's Input)