Indian Railway Finance Corporation (IRFC) Q1 24/25 earnings summary

Executive summary

• Acts as the primary market borrowing arm for Indian Railways, with 99.03% of AUM exposed to the Ministry of Railways.

• AUM reached INR 4,63,181.05 crore as of June 30, 2024, with a 19.88% CAGR since FY19.

• Unaudited financial results for the quarter ended 30 June 2024 were approved by the Board on 12 August 2024.

• Net profit for Q1 FY25 was INR 1,576.83 crore, up 1.65% year-over-year.

• Revenue from operations for Q1 FY25 was INR 6,765.63 crore, up 1.37% year-over-year.

Financial highlights

• Net Interest Income for Q1 FY25 was INR 1,589.43 crore, up 2.80% year-over-year.

• Lease income for Q1 FY25 was INR 4,946.60 crore; interest income was INR 1,819.03 crore.

• Finance cost for the quarter was INR 5,154.91 crore.

• Net worth stood at INR 50,772.21 crore as of June 30, 2024.

• Total comprehensive income for Q1 FY25 was INR 1,589.14 crore.

Outlook and guidance

• Exploring opportunities in leasing rolling stock, funding state JV infrastructure, dedicated freight lines, high-speed corridors, logistics parks, and renewable energy.

• Engaged in discussions for co-lending with government sector infrastructure finance companies.

• No fresh acquisition and leasing of rolling stock assets occurred during the quarter.

• Lease receivables recognized as per Ind-AS 116 for EBR IF 2018-19, with execution of lease agreement in process.