IRFC has reported stable revenue and consistent profitability in its Q3 2024 results. The company s outstanding debt grew, but its debt-to-equity ratio dropped
IRFC Q3 results: The rail PSU's net profit in December 2023 quarter came at Rs 1,604 crore, down 1.78 per cent from Rs Rs 1,633 crore in the year-ago period. The quarterly results were announced after market hours.
HDFC Bank Ltd, Reliance Industries Ltd (RIL), Axis Bank Ltd and RVNL were some of the NSE-listed companies seeing high turnover in the morning session.
IRFC shares surged 68 per cent in January so far. Rail Vikas Nigam Ltd (RVNL) is up 63 per cent while Ircon International Ltd gained 36 per cent during the same period.
Railways can see a decent increase in capex, considering greater emphasis on railway modernisation and more Vande Bharat trains, said Prabhudas Lilladher.