IRFC shares in focus after muted Q2 results

Indian Railway Finance Corporation (IRFC) shares are in focus following the release of its second-quarter results for the period ending September 2024. The railway PSU reported a modest 4% year-on-year (YoY) increase in profit after tax (PAT) to Rs 1,612.65 crore, while revenue from operations rose by 2%.

PAT for the same quarter of the previous financial year stood at Rs 1,544.58 crore. Revenue from operations was reported at Rs 6,899.34 crore, compared to Rs 6,761.02 crore in the year-ago period.

On a quarterly basis, PAT increased by 2.2%, with the first-quarter figure standing at Rs 1,576.82 crore for the period ending June 30, 2024.


The company also declared an interim dividend of Rs 0.80 per share for its shareholders, with the record date set for November 12, as announced in October.

IRFC's operating profit was 4.5% higher at Rs 1,650.6 crore, up from Rs 1,579.53 crore YoY.

However, the company’s total expenses saw a marginal rise of 1%, reaching Rs 5,287.55 crore compared to Rs 5,217.60 crore in Q2 FY24, and nearly a 2% increase from Rs 5,189.2 crore in the previous quarter.

IRFC’s shares have delivered multibagger returns of 113% over the last year and have increased by 53% in the current calendar year. However, the stock has declined by 20% in the last 3 months and 2.5% over the past 6 months.

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