Indian Railway Finance Corporation (IRFC) on Wednesday reported a 38.34 percent jump in its net profit to an all-time high of Rs 4,416.13 crore for the last financial year 2020-21.
The company has posted a net profit of Rs 3,192.09 crore in the financial year 2019-20.
While addressing the 34th Annual General Meeting, IRFC Chairman and Managing Director Amitabh Banerjee said the total revenue from operations grew 17.51 percent year-on-year, amounting to Rs 15,770.47 crore in 2020-21 as against Rs 13,421.01 crore in the previous financial year.
The company has declared an interim dividend of Rs 1,372.19 crore which works out to 31.07 percent of profit after tax (PAT) for the financial year 2020-21.
"IRFC reported a stellar performance during the year under review, with all-time high revenue and profits. The net profit of IRFC for FY21 stood at Rs 4,416.13 crore, an increase of 38.34 percent, against Rs 3,192.09 crore in the last fiscal," Banerjee said.
While addressing the shareholders during the virtual AGM, Banerjee said IRFC has recorded a phenomenal 51 percent growth in annual disbursements, which increased from Rs 70,471.96 crore in FY20 to Rs 1,04,369 crore in FY21.
The assets under management (AUM) for 2020-21 stands at Rs 3,60,079 crore, registering a year-on-year growth of 35.29 percent.
He said the capital adequacy ratio of IRFC continues to remain strong at 420.46 percent in FY21.