IRFC Q3 Results: Net profit rises 11% to ₹1,802 crore, revenue drops 1.5% to ₹6,661 crore

IRFC Q3 Results: Indian Railway Finance Corporation (IRFC), a Navratna CPSE under the railways ministry, recorded a 10.52% increase in profit after tax (PAT) of ₹1,802.19 crore in the quarter ended December 31, 2025, according to an exchange filing on Monday, January 19. Notably, this is the highest-ever quarterly PAT in the company's history.

Post-tax profit stood at ₹1,630.66 crore in the same period of the previous fiscal year.

However, revenue from operations declined 1.51% to ₹6,661.13 crore in the October-December quarter of the financial year 2025-26, compared to ₹6,763.43 crore in the year-ago period.

For the nine-month period ended of FY26, PAT stood at ₹5,324.86 crore, up 10.47% compared to ₹4,820.13 crore in the corresponding period last year.

IRFC's Assets Under Management (AUM) advanced to a record ₹4.75 lakh crore as of December 2025 despite the absence of fresh business from Indian Railways during the period.

The firm continued to maintain its zero non-performing asset, or NPA, record and obtained fifth consecutive 'Excellent' performance rating post listing from the Department of Public Enterprises (DPE).

IRFC share price

Shares of Indian Railway Finance Corporation are down 0.62% to ₹121.43 apiece on the NSE at 2:55 pm. Its market capitalisation stands at ₹1,58,690.87 crore.

Speaking on the results, Manoj Kumar Dubey, Chairman and Managing Director of IRFC, said, "The quarter reflects strong execution under IRFC 2.0. Our Q3 performance demonstrates the resilience of IRFC's business model and the effectiveness of diversification across both core railway financing and allied infrastructure segments. Importantly, we have already achieved our annual sanction guidance of ₹60,000 crore within nine months itself, which underlines the robustness of our pipeline and the speed of execution."

Dubey also spoke on IRFC's ₹9,821 crore refinancing of DFCCIL's World Bank loan, calling it as a strategically significant transaction. "By replacing foreign currency exposure with rupee financing, we were able to generate meaningful savings and mitigate risk for a nationally important railway project. This transaction establishes a scalable refinancing template that can be replicated across other large railway and railway-linked infrastructure projects," he said.