Indian Railway Finance Corp is getting attention in Dalal Street because of the ongoing buzz in the share price. Also, currently, they are preparing for the IRFC Q3 results 2024 financial report. IRFC faced a fall in its net profits in the last quarter. However, they had an increase in its PAT by 2% on a YoY basis in Q3 2023. We will discuss IRFC Q3 results 2024 updates in the article below. The company’s sole motto is to contribute to Indian Railways financing. Indian Railways is a massive part of the Indian economy. Let us look at the previous quarterly performance of IRFC below.
IRFC Q3 Results 2024 Date, Earnings, Net Profit, And Sales Reports
IRFC quarter 3 results for the fiscal period 2024 were profitable. However, they had a fall in the quarterly profit as compared to the previous year. The company made a net profit of ₹1,604 Crores which is 1.78% less than the previous year’s profit. Apart from that, the revenue from the operation saw an upsurge. It is reported to be ₹6,742 Crore for Q3 2024. The company has been dealing with some fall in the net profits from the last quarter. IRFC Q3 2023 was a good quarter for the company. They made a 2% YoY growth on PAT. The revenues also increased by 22%. With income, expenses also tend to rise. We saw an increase in its expenses by 31%. The company plays a crucial role in raising funds for Indian Railways. It is the only rail transportation system in the country in monopoly.
IRFC’s operating profit margin falls to 26.20%. The profit for the quarter is still less due to increased finance costs. Let us move to Q2 results 2024. The company is having a fall in the net profits. The calculations state around 9% loss, reaching ₹1549 crores in Q2 2024. However, the company still manages to increase its revenue by 16% YoY. As it was a profitable quarter, they declared a dividend as well. It reaches to ₹0.8 per equity share. The dividend for Q1 2024 was ₹30.93% on PAT. Let us look at the performance of IRFC below.
IRFC has a fall of 1.34% in the last two days. However, the market shows a yearly growth of 202.13% with a market cap of ₹1.30 Lakhs crore. The all-time high in the past 52 weeks recorded ₹192.80 per share with an all-time low of ₹25.40. The dividend yield was 1.51%. The share price is expected to touch ₹120 in a month or more. We hope you get enough details about IRFC Q3 results 2024 updates in the article.