Indian Railway Finance Corporation (IRFC) has reported a 126 percent jump in net income to record Rs 1,482.55 crore in the March quarter, mainly due to higher interest income from record disbursals and cheaper funds.
It had clocked a net income of Rs 654.63 crore a year ago.
The New Delhi-based dedicated market borrowing arm of the Railways attributed the massive growth in the bottomline to the traditionally busy season effect when the Railways draws down the maximum funds from it.
For the full year, it has booked a profit of Rs 4,416.13 crore, up 38.34 percent from Rs 3,192.06 crore in FY20, as its revenue from operations rose 17.5 percent to Rs 15,770.47 crore from Rs 13,421.09 crore in FY20.
Of the close to Rs 1.05 lakh of annual disbursement, which was a record for us, as much as Rs 64,000 crore was disbursed in the reporting quarter, boosting our net income.