 "IRFC share price surges 3% despite flat Q1FY25 earnings; details here")
Shares of India Railway Finance Corporation (IRFC) soared up to 2.6 per cent at Rs 189.45 per share on the BSE in Tuesday’s early morning deals. The stock price jumped after the company reported its April-June quarter of financial year 2024-25 (Q1FY25) on August 12, 2024.
The railway financier reported revenue of Rs 6,765 crore for the quarter, reflecting a 1.4 per cent increase from Rs 6,673 crore in the same period last year. IRFC’s net profit was near flat year-on-year at Rs 1,576 crore, compared to Rs 1,551 crore previously. The net interest income, or core income, rose by 1.8 per cent to Rs 1,611 crore.
For the June quarter, IRFC's revenue and net profit were flat year-on-year. While revenue improved compared to the March quarter, net profit decreased. The company has announced a final dividend of Rs 0.7 per share, with August 22, 2024, set as the record date to determine shareholder eligibility.
IRFC, along with railway peers such as RVNL, IRCON, and RailTel, was also in focus on Monday following the Cabinet Committee on Economic Affairs' approval of eight Ministry of Railways projects, with a total estimated cost of Rs 24,657 crore. These projects are expected to be completed by FY 2030-31.
IRFC, along with railway peers such as RVNL, IRCON, and RailTel, was also in focus on Monday following the Cabinet Committee on Economic Affairs' approval of eight Ministry of Railways projects, with a total estimated cost of Rs 24,657 crore. These projects are expected to be completed by FY 2030-31.
IRFC has a total market capitalisation of Rs 2.46 trillion. The company is presently trading at a price to earnings multiple of 37.52 times, while trading at an earning per share (EPS) of Rs 4.92.
The share price of the company has zoomed 21.86 per cent year to date, while rallying 267.76 per cent in the last one year
At 09:58 PM; the stock price of the company was trading 2.06 per cent higher at Rs 188.35 per share on the BSE. By comparison the BSE Sensex slipped by 0.14 per cent at 79,534 levels.
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IRFC is a public sector company focused on raising financial resources for expansion and regular operations through capital markets and other borrowings. The majority of its shares are owned by the Government of India, and it is administered by the Ministry of Railways.
The company’s primary objective is to fulfil a significant portion of the Indian Railways' 'Extra Budgetary Resources' (EBR) needs. IRFC achieves this by securing funds through market borrowings at competitive rates and terms. Its core function is to raise capital from financial markets to finance the acquisition or creation of assets, which are then leased to Indian Railways.