Mumbai: IRFC posted a net profit of Rupees 1,800 crore in Q3 FY26, rising from Rupees 1,630 crore in Q3 FY25, reflecting a year-on-year growth of about 11%. On a quarter-on-quarter basis, profit increased modestly from Rupees 1,780 crore in Q2 FY26, indicating stable earnings momentum. The rise in profit came even as revenue faced pressure due to changes in lease income recognition during the quarter.
Revenue from operations in Q3 FY26 stood at Rupees 6,660 crore, lower than Rupees 6,760 crore in the year-ago quarter, marking a marginal year-on-year decline. Compared with Rupees 6,370 crore in Q2 FY26, revenue improved sequentially, showing better performance than the previous quarter. The company explained that the year-on-year dip was mainly due to a one-year extension of the moratorium on a railway project lease, which delayed the start of lease income.
Total income for the quarter was reported at Rupees 6,720 crore, broadly stable compared with the same period last year. Expenses rose at a slower pace, helping protect profitability. Finance costs, which form the bulk of IRFC’s expenses, remained under control, supporting earnings despite softer revenue. IRFC’s operating profit before tax for Q3 FY26 came in at Rupees 1,800 crore, compared with Rupees 1,630 crore a year ago, indicating improved cost discipline. This reflects better cost control, even as income growth was muted. There were no exceptional gains or losses reported during the quarter.
Earnings per share (EPS) for Q3 FY26 improved to Rupees 1.38, up from Rupees1.25 in Q3 FY25, mirroring the rise in profit. On a sequential basis, EPS remained broadly stable compared with Q2 FY26. For the nine-month period ended December 2025, IRFC reported a net profit of Rupees 5,320 crore, up from Rupees 4,820 crore in the same period last year, showing over 10% growth. Revenue from operations for the nine months stood at Rupees 19,900 crore, slightly lower than the previous year, again reflecting the impact of deferred lease income.
The company’s net worth increased to Rupees 56,600 crore as of December 2025, underlining a steady balance sheet position. IRFC confirmed that there are no subsidiaries, and the results are on a standalone basis.
Disclaimer:This article is based on unaudited financial results filed with stock exchanges. Figures are rounded for readability. Investors should refer to official filings for detailed information before making investment decisions.
