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Indian Railway Finance Corporation Limited Q3 FY26 earnings call summary

NSE: IRFC · BSE: 543257

Earnings call of 20 Jan 2026, summarised by AI from the filing.

IRFC Q3 FY26 profit ₹1,850 cr including ₹50 cr provision; sanctions surpassed FY26 guidance and AUM to be ₹5 lakh crore plus.

Key takeaways

  1. Profit ₹1,850 cr including ₹50 cr standard asset provision; management said profit would be ₹1,850 cr and nearly 13% year-on-year without it.
  2. Guidance PAT, NIM and AUM to grow every quarter; AUM to be ₹5 lakh crore plus going ahead.
  3. Driver Diversification into the railway ecosystem yields margins 2x to 3x those from Indian Railways.
  4. Risk Banks become aggressive on some assets and win bids despite IRFC's low cost.

Original filing on BSE

Indian Railway Finance Corporation Limited Q1 FY27 results

As filed: Revenue ₹8,261 cr (+19% year on year), EBITDA ₹8,219 cr (+20% year on year), PAT ₹1,927 cr (+10% year on year), EBITDA margin 99.5% (+17 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹7,336 cr (+9% year on year), EBITDA ₹7,218 cr (+8% year on year), PAT ₹1,684 cr (0% year on year), EBITDA margin 98.4% (−94 bps). Score 59 of 100, In line with trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was below it. EBITDA margin fell 94 bps year on year. Tax rate 0%. Profit fell 7% from last quarter. Share price after the results: −5.5% in 29 days (Nifty 500: +1.0%).
  • Q3 FY26: Revenue ₹6,661 cr (−2% year on year), EBITDA ₹6,558 cr (−2% year on year), PAT ₹1,802 cr (+11% year on year), EBITDA margin 98.4% (−98 bps). Score 35 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was above it. EBITDA margin fell 98 bps year on year. Tax rate 0%. Share price after the results: −1.9% in 30 days (Nifty 500: +0.7%).
  • Q2 FY26: Revenue ₹6,372 cr (−8% year on year), EBITDA ₹6,322 cr (−8% year on year), PAT ₹1,777 cr (+10% year on year), EBITDA margin 99.2% (−23 bps). Score 24 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was above it. EBITDA margin fell 23 bps year on year. Tax rate 0%. Revenue fell 8% from last quarter. Share price after the results: −2.8% in 30 days (Nifty 500: +2.8%).
  • Q1 FY26: Revenue ₹6,915 cr (+2% year on year), EBITDA ₹6,868 cr (+2% year on year), PAT ₹1,746 cr (+11% year on year), EBITDA margin 99.3% (−21 bps). Score 45 of 100, In line with trend. Revenue and EBITDA growth were in line with the company's own trend; profit growth was above it. EBITDA margin fell 21 bps year on year. Tax rate 0%. Share price after the results: −4.1% in 30 days (Nifty 500: −0.8%).
  • Q4 FY25: Revenue ₹6,723 cr (+4% year on year), EBITDA ₹6,678 cr (+4% year on year), PAT ₹1,682 cr (−2% year on year), EBITDA margin 99.3% (−14 bps). Score 43 of 100, In line with trend. Revenue and EBITDA growth were in line with the company's own trend; profit growth was below it. EBITDA margin fell 14 bps year on year. Tax rate 0%.
  • Q3 FY25: Revenue ₹6,763 cr (0% year on year), EBITDA ₹6,724 cr (0% year on year), PAT ₹1,631 cr (+2% year on year), EBITDA margin 99.4% (−4 bps). Score 32 of 100, Below trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin was flat year on year. Tax rate 0%.
  • Q2 FY25: Revenue ₹6,900 cr (+2% year on year), EBITDA ₹6,862 cr (+2% year on year), PAT ₹1,613 cr (+4% year on year), EBITDA margin 99.5% (−5 bps). Score 31 of 100, Below trend. EBITDA margin was flat year on year. Tax rate 0%. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Indian Railway Finance Corporation Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.