Indian Railway Finance Corporation (IRFC) shares dipped close to 3% on November 4, 2024, following the release of its Q2 FY25 financial performance. The company reported a 2% year-on-year (YoY) increase in revenue from operations, which rose to ₹6,898 crore, up from ₹6,761 crore in the same quarter last year. Net profit also showed a modest rise, climbing 4.4% YoY to ₹1,612 crore.
Key Financial Highlights:
- Revenue Growth: Total revenue for Q2 FY25 was ₹6,900 crore, marking a slight increase from ₹6,762 crore in Q2 FY24.
- Net Profit: Profit for the quarter grew to ₹1,612 crore from ₹1,544 crore last year.
- Dividend Announcement: IRFC’s board declared a dividend of Re 0.80 per share, with the record date set for November 12.
For the first half of FY25, IRFC reported a total revenue of ₹13,666 crore, a slight increase from ₹13,437 crore for the same period last year. Net profit for the six-month period was ₹3,192 crore, up marginally from ₹3,117.84 crore.
Recent Stock Performance:
IRFC shares have seen significant volatility, with a recent downtrend over the past three months causing a 34% decline from a high of ₹229 to ₹153.24. In October, shares hit a six-month low of ₹132.80 due to profit booking following a substantial rally between March 2023 and July 2024, during which the stock gained over 780%. At 9:45 am on November 4, shares were trading at ₹149.75, reflecting a 2.28% dip on the NSE.
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