Indian Railway Finance Corporation (IRFC) on Tuesday reported a Q4 standalone net profit at ₹1,482.5 crore as compared to ₹654.6 crore in the same quarter last year. The revenue witnessed a growth of 39% at ₹4,455 crore as against ₹3,205 crore year-on-year (YoY). The company's total expenses for the fourth quarter stood at ₹2,972.4 crore as compared to ₹2,551 crore in the corresponding quarter of the previous fiscal. IRFC is a dedicated market borrowing arm of the Indian Railways and is wholly-owned by the Government acting through the Ministry of Railways. Its primary business is financing the acquisition of rolling stock assets and project assets of the Indian Railways and lending to other entities under the ministry.

Source: Mint June 29, 2021 09:07 UTC