Indian Railway Finance Corp. posted a 2% rise in its net profit in the third quarter of the current financial year.
The public sector undertaking posted a profit of Rs 1,631 crore in the quarter ended Dec. 31, 2024, as compared to Rs 1,593 crore in the same period last year, according to an exchange filing on Monday.
The company's income was relatively flat and rose 0.4% to Rs 6,766 crore in the October-December period, in comparison to Rs 6,740 crore in the year-ago period.
Indian Railway Finance Corp. Q2 Performance
IRFC reported a 4.4% year-on-year increase in net profit for the second quarter of the current financial year. The company posted a profit of Rs 1,613 crore for the quarter ending September, up from Rs 1,545 crore in the same period last year.
The company's income grew by 2% YoY to Rs 6,900 crore during the July–September period, up from Rs 6,762 crore in the previous year.
IRFC also declared an interim dividend of Rs 0.80 per equity share of Rs 10 each for the fiscal.
Indian Railway Finance Corp. Shares Rise Nearly 2%
The shares of IRFC rose as much as 1.66% to Rs 148.62 apiece, the highest level since Jan. 3. It pared gains to trade 0.08% higher at Rs 146.30 apiece, as of 2:28 p.m. This compares to a 0.60% advance in the NSE Nifty 50.
It has fallen 16.99% in the last 12 months. Total traded volume so far in the day stood at 1.15 times its 30-day average. The relative strength index was at 51.
The one analyst tracking the company suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 66%.
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