IRFC April-June Net Profit Rises 10.7% YoY Despite Drop In Interest Income

Indian Railway Finance Corp. Ltd. posted a 10.7% year-on-year rise in net profit to ₹17.46 billion for the April-June quarter, supported by strong lease income. On a sequential basis, net profit was up 3.8%.

The company’s primary revenue source, leasing income, grew 9.2% on year to ₹54.04 billion. However, interest income declined sharply—down 17.7% on year and 24% on quarter—to ₹14.97 billion, which partly weighed on overall performance.

Total revenue from operations rose 2.2% on year to ₹69.15 billion. Other operating income stood at ₹143 million during the quarter.

Total expenditure edged down slightly to ₹51.73 billion from ₹51.89 billion a year ago. Finance costs, which form the bulk of expenses, fell marginally to ₹51.24 billion but rose 2.6% from the previous quarter.