Indian Railway Finance Corporation Limited (IRFC) announced its financial results for the quarter and nine months ended December 31, 2025. The company reported a Profit After Tax (PAT) of ₹1,802.19 crore for the quarter, marking a year-on-year growth of 10.52% and its highest-ever quarterly PAT. For the nine-month period, the PAT stood at ₹5,324.86 crore, a 10.47% increase from the same period last year.

The Net Interest Margin (NIM) improved by over 8% year-on-year. Total income for the quarter was ₹6,719.23 crore, and for the nine months, it was ₹20,009.38 crore. A marginal year-on-year moderation in quarterly income was attributed to a one-year extension of a moratorium granted by the Ministry of Railways for a project lease agreement.

Manoj Kumar Dubey, Chairman and Managing Director of IRFC, highlighted the strong execution under IRFC 2.0 and the resilience of the company's business model. Importantly, IRFC achieved its annual sanction guidance of ₹60,000 crore within nine months. The disbursement target of ₹30,000 crore for the year is on track, with three-fourths already disbursed.

A significant operational highlight was the refinancing of DFCCIL's World Bank loan worth ₹9,821 crore, replacing foreign currency exposure with rupee financing. IRFC's Assets Under Management (AUM) reached a record ₹4.75 lakh crore as of December 31, 2025. The company also reported its highest-ever net worth of ₹56,625.41 crore and an annualized Earnings Per Share (EPS) of ₹5.43.

IRFC secured a JPY 46.458 billion (USD 300 million) External Commercial Borrowing facility and raised funds through Zero-Coupon Bonds. The company maintained its zero non-performing asset (NPA) record and received its fifth consecutive "Excellent" performance rating from the Department of Public Enterprises.

Looking ahead, IRFC anticipates a positive impact from higher-margin diversified lending and new project agreements with Indian Railways from the next financial year. The company is also exploring co-financing with multilateral agencies and expansion into sectors like metro rail, renewable energy, logistics, and ports.