IRFC posted its earnings for the quarter ended March on Monday evening. The railway company has been on a golden run at the bourses ahead of the results. In the last six sessions, the stock has gone up around 19%.
What Happened: The Miniratna company reported a 33.6% year-on-year increase in net profit, reaching ₹1,717 crore compared to ₹1,285 crore in the same period the previous year. The public service enterprise’s expenses for the quarter were ₹4,760.6 crore, down from ₹4,945 crore a year earlier.
Total revenue from operations for the March quarter rose by 1.73% to ₹6,473 crore, up from ₹6,193 crore in the corresponding quarter last year.
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Additionally, the railway major announced a final dividend of ₹0.70 per equity share of ₹10 for the financial year 2023-24. The board also approved raising up to ₹50,000 crore for the financial year 2024-25 from both domestic and international markets. This will be achieved through a combination of tax-free bonds, taxable bonds via private placement or public issue, including capital gain bonds, government-guaranteed bonds, and government-serviced bonds.
Price Action: IRFC’s share price was up 2.51% to close at ₹173.25 on Saturday,
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