The specialised market borrowing arm of the Indian Railways, Indian Railway Finance Corporation Limited (IRFC), recorded a profit rise of 68.42 percent quarterly in Q1FY22 at Rs 1501.95, compared to Rs 891.81cr in Q1FY21.

On a quarter-on-quarter basis, revenue from operations for Q1FY22 increased by 24.87 percent to Rs 4581.61 crore, up from Rs 3669.22 crore in Q1FY21. At the conclusion of Q1FY22, the company's net value was Rs 37,416.50 crore, up 19.95 percent from Rs 31,192.96 crore in Q1FY21.

Total borrowings were Rs 3,28,347.35 crore at the end of Q1FY22, up 40.22 percent from Rs 2,34,165.15 crore at the end of Q1FY21. At the conclusion of Q1FY22, the Assets Under Management (AUM) were Rs 3,66,155.16 crore.

According to a filing on Friday, the firm continues to raise financing at the most competitive rates and conditions from both local and international financial markets, which has helped keep its borrowing costs low

Indian Railway Finance Corporation Ltd was trading at Rs 23.85 per piece at 11:48 a.m. on the BSE, down Rs 0 or 0% from its previous close of Rs 23.85 per piece.

“The major engine of development at IRFC has been the investment expenditure by Indian Railways since a large amount of the financial demand has to be covered through IRFC. IRFC's continuously excellent financial performance illustrates the story of the country's massive expansion in railway infrastructure,” said Amitabh Banerjee, Chairman and Managing Director of IRFC.

“In light of the massive railway infrastructure invested envisaged under the National Rail Plan 2030, IRFC can foresee a sustained growth in revenue and profitability in the coming years, given that IRFC has financed a significant portion of Indian Railways' CAPEX outlay, particularly in the last six years,” he added.