Indian Railway Finance Corporation (IRFC) declined 9.47% to Rs 139.15 after the company reported 1.79% fall in consolidated net profit to Rs 1,604.22 crore in Q3 FY24 as compared with Rs 1,633.4 crore in Q3 FY23.
Revenue from operations increased 8.43% year on year (YoY) to Rs 6,741.86 crore in the third quarter of FY24.Profit before tax fell 1.78% to Rs 1,604.22 crore in Q3 FY24 as compared with Rs 1,633.44 crore posted in Q3 FY23.
On nine-month basis, the companys consolidated net profit fell 5.96% to Rs 4,710.67 crore on 14.34% increase in revenue from operations to Rs 20,187 crore in 9M FY24 over 9M FY23.
Indian Railway Finance Corp. principal business is to borrow funds from the financial markets to finance.
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