IRFC reports stable financial performance in Q3
Indian Railway Finance Corporation (IRFC), a largecap finance company, has recently declared its financial results for the quarter ended September 2023. The company's net sales for the quarter showed a growth of 1.31% compared to the previous quarter, which was at 7.10%. However, the standalone net profit for the quarter saw a slight decline of 0.43% compared to the previous quarter's growth of 17.24%. The operating profit (PBDIT) excluding other income also saw a growth of 1.24% in the quarter, compared to 7.44% in the previous quarter. The interest expenses for the quarter also saw a growth of 1.78%, compared to 4.01% in the previous quarter. However, the operating profit margin (excluding other income) saw a decline from the previous quarter.
Despite the flat financial performance in the quarter, IRFC has maintained a consistent score in the last three months. The company's net sales for the quarter were the highest at Rs 6,766.63 crore, and have shown growth in each of the last five quarters, indicating a positive sales trend in the near term. Similarly, the operating profit (PBDIT) for the quarter was also the highest at Rs 6,732.66 crore, and has shown growth in each of the last five quarters, indicating a positive trend in the near term.
Overall, IRFC's financial results for the quarter ended September 2023 show a stable performance, with positive trends in net sales and operating profit. This reflects the company's strong position in the finance/NBFC industry as a largecap company. Investors may consider holding onto their stocks, as recommended by MarketsMOJO.
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