Indian Railway Finance Corporation (IRFC) reported 2% rise in net profit to Rs 1633.45 crore on a 22% increase in total income to Rs 6222.03 crore in Q3 FY23 over Q3 FY22.
Total expenses during the quarter amounted to Rs 4588.58 crore, up 31% YoY. Finance costs in the third quarter increased by 30% YoY and accounted for over 99% of total expenses.
Debt to equity ration was at 9.13 times as on 31 December 2022 as against 9.34 times as on 31 December 2021. Capital-to-risk-weighted assets ration stood at 482.11%.
While the company's operating profit margin declined by 505 bps to 26.20%, net profit margin fell by 502 bps to 26.25% in the third quarter as compared witht the same period last year.
IRFC is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets. The Government of India held 86.36% stake in the company as on 30 December 2022.
The scrip shed 0.50% to currently trade at Rs 29.25 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content