The shares of IRFC rose by 4.2% in the opening hours of the market as Indian Railway Finance Corporation (IRFC) announced a 1.64% rise in net profits at Rs 1,576.83 crore for the April to June quarter of the financial year 2024-25, compared to Rs 1,551.27 crore in the same quarter of the previous year, according to the company’s filing on the National Stock Exchange (NSE) on Monday, August 12.  

The government-owned non-banking financial company (NBFC) experienced a 1.37% rise in revenue from operations, reaching Rs 6,765.63 crore for the first quarter of the financial year 2024-25, compared to Rs 6,673.87 crore in the same period the previous year.

The company released its first-quarter results after the market hours.

The non-banking lender’s interest income dropped by 14.64% to Rs 1,819.03 crore from April to June of the financial year 2024-25, as opposed to Rs 2,131.25 crore in the same quarter of the previous year.

The slight increase in IRFC’s net profits was attributed to the growth in income from the company’s leasing activities, which experienced an 8.89% increase year-on-year to Rs 4,946.60 crore for the current financial year, compared to Rs 4,542.62 crore in the same period the previous year, as per the company’s filing.

At 3:30 pm, the shares of IRFC closed 2.34% higher at Rs 184 per share on NSE.

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