
IRFC disburses ₹32,393 cr to Indian Railways in FY23, says CMD Shelly Verma at AGM
The financing arm of the Indian Railways has declared a total dividend of ₹1,960.28 crore, which works out to 30.93% of PAT for FY23, says Shelly Verma.
The financing arm of the Indian Railways has declared a total dividend of ₹1,960.28 crore, which works out to 30.93% of PAT for FY23, says Shelly Verma.
The stock, which made its market debut in June last year, hit a fresh all-time high of ₹398.10 on September 5, after touching 52-week low of ₹66.90 on September 27, 2022.
The government, which currently holds 86.36% shares in IRFC, has to dilute 11.36% stake in the company to meet SEBI’s minimum public shareholding norm.
On Wednesday, the stock rallied nearly 5% to hit a fresh all-time high of ₹529.20 level. The share price has risen 125% in the current calendar year.
The consortium between Ramkrishna Forgings and Titagarh has been awarded the contract to manufacture and supply 15,40,000 forged wheels to the Indian Railways.
The ticketing and catering arm of Indian Railways registered a 30.4% YoY rise in net profit at ₹279 crore, while revenue from operations jumped 39.6% YoY to ₹965 crore for Q4FY23.
Freight revenue, too, rises 15% to ₹1.62 lakh crore; passenger revenues hit an all-time high growth of 61% at ₹63,300 crore.
The consortium of BHEL and Titagarh Wagons will supply 80 sleeper-class Vande Bharat trains within 72 months at the rate of ₹120 crore per train.
In FY22, there was only one level crossing accident and two collisions
The government has set a target of 475 Vande Bharat trains within the next four years. But how will railways ensure operational issues do not jeopardise passenger interest?