IRFC Q2 FY27: Total income Rs 7,924.46 cr; PAT Rs 1,958.48 cr
Indian Railway Finance Corporation’s standalone Q2 FY27 total income rose to Rs 7,924.46 cr and PAT to Rs 1,958.48 cr versus Rs 6,371.91 cr and Rs 1,776.98 cr a year earlier.
Key takeaways
- Total income Rs 7,924.46 cr vs Rs 6,371.91 cr a year earlier
- Revenue from operations Rs 7,866.41 cr vs Rs 6,371.89 cr
- PAT Rs 1,958.48 cr vs Rs 1,776.98 cr in Q2 FY26
- Finance costs Rs 5,917.08 cr vs Rs 4,544.42 cr
- Basic EPS Rs 1.50 vs Rs 1.36, as per statement of financial results
Q2 FY27 · standalone
| Metric | Sep 2026 | Sep 2025 | Change |
|---|---|---|---|
| Total income | Rs 7,924.46 cr | Rs 6,371.91 cr | +24.4% |
| PAT | Rs 1,958.48 cr | Rs 1,776.98 cr | +10.2% |
As reported in the filing. Figures are transcribed, not computed.
What the numbers show
- Net margin was 24.90% of revenue, down 299 bps from 27.89%.
- Total expenses rose 29.8% while revenue rose 23.5%.
- Finance costs took 75.2% of revenue, against 71.3% a year earlier.
Key quarterly numbers (standalone)
From the statement of unaudited financial results (standalone) for the quarter ended 30th September 2026, compared with the corresponding quarter ended 30th September 2025:
- Total income: Rs 7,924.46 cr (Q2 FY27) vs Rs 6,371.91 cr (Q2 FY26)
- Revenue from operations: Rs 7,866.41 cr vs Rs 6,371.89 cr
- Finance costs: Rs 5,917.08 cr vs Rs 4,544.42 cr
- Impairment on financial instruments: Rs (0.44) cr vs Rs 4.02 cr
- Employee benefit expense: Rs 7.25 cr vs Rs 5.58 cr
- Depreciation, amortization and impairment: Rs 2.07 cr vs Rs 1.35 cr
- Other expenses – CSR: Rs 31.98 cr vs Rs 32.08 cr
- Other expenses – Others: Rs 8.04 cr vs Rs 7.48 cr
- Total expenses: Rs 5,965.98 cr vs Rs 4,594.93 cr
- Profit before tax: Rs 1,958.48 cr vs Rs 1,776.98 cr
- Profit after tax (PAT): Rs 1,958.48 cr vs Rs 1,776.98 cr
- Basic EPS (non-annualised, Rs): Rs 1.50 vs Rs 1.36
- Diluted EPS (non-annualised, Rs): Rs 1.50 vs Rs 1.36
For context, the same standalone table on the statement of financial results also shows the immediately preceding quarter (30th June 2026) and half-year and full-year figures, but the comparisons above are strictly between the quarter ended 30th September 2026 and the quarter ended 30th September 2025.
Total income for the quarter ended 30th September 2026, as per the statement of financial results, was Rs 7,924.46 cr, up from Rs 6,371.91 cr in the corresponding quarter of the previous year. Revenue from operations, which includes interest income, lease income and other operating income, increased to Rs 7,866.41 cr from Rs 6,371.89 cr over the same period.
On the cost side, finance costs rose to Rs 5,917.08 cr in Q2 FY27 from Rs 4,544.42 cr in Q2 FY26. Impairment on financial instruments moved to Rs (0.44) cr from Rs 4.02 cr. Employee benefit expense increased to Rs 7.25 cr from Rs 5.58 cr, while depreciation, amortization and impairment rose to Rs 2.07 cr from Rs 1.35 cr. CSR expenses were Rs 31.98 cr compared with Rs 32.08 cr a year earlier, and other expenses (Others) were Rs 8.04 cr versus Rs 7.48 cr.
Total expenses for the quarter were Rs 5,965.98 cr, up from Rs 4,594.93 cr in the corresponding prior period. Profit before tax and profit after tax for Q2 FY27 were both reported at Rs 1,958.48 cr, compared with Rs 1,776.98 cr a year earlier, in the same standalone statement of financial results. Basic and diluted earnings per share (non-annualised) for the quarter were Rs 1.50, against Rs 1.36 in the corresponding quarter of the previous year.
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