IRFC share price surges as company reports two-fold jump in Q4 profit

Indian Railway Finance Corporation shares surge around seven per cent and almost at life high to Rs 26.45 per share on the BSE intraday trade today, as the company reports over two-fold jump in the fourth quarter profit of the financial year 2020-2021.

IRFC reported an over 126 per cent rise to in the Q4 profit to Rs 1,482.5 crore, as against Rs 654.6 crore year-on-year, while the company’s revenue rose by 39 per cent to Rs 4,455 crore in Q4 FY21 versus Rs 3,205 crore in the same period a year ago.

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The total expenses of the company stood at Rs 2,972.4 crore as compared to Rs 2,551 crore in the corresponding quarter of the previous fiscal.

The company said that it has adopted measures to curb the spread of covid infection in order to protect the health of its employees and ensure business continuity with minimal disruption.

At around 3:10 pm, the stock was trading over two per cent higher to Rs 25.25 per share on the BSE, as compared to a 0.35 per cent decline in the S&P BSE Sensex on Tuesday.

Prior to results, the stock was trading flat at Rs 24 per share levels, however, jumped immediately after the Q4 earnings, similarly, for the last five sessions, the stock has been trading flat. In the month of June, it has surged over 12 per cent.