Indian Railway Finance Corporation Limited (IRFC) announced its un-audited financial results for the quarter and nine months ended December 31, 2025. The Board of Directors, in its meeting held on January 19, 2026, approved these results.

For the third quarter, IRFC reported a Profit After Tax (PAT) of ₹1,802.19 crore, a year-on-year growth of 10.52%, marking a historic high for quarterly PAT. The nine-month PAT stood at ₹5,324.86 crore, showing a 10.47% increase compared to 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.

The company achieved its annual sanction guidance of ₹60,000 crore within nine months. The disbursement target of ₹30,000 crore is on track, with three-fourths already disbursed. A significant event during the quarter was the refinancing of DFCCIL's World Bank loan amounting to ₹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 secured a JPY 46.458 billion (USD 300 million) External Commercial Borrowing facility from Sumitomo Mitsui Banking Corporation and issued Zero-Coupon Bonds. IRFC maintained its zero non-performing asset (NPA) record and received an "Excellent" performance rating for the fifth consecutive year from the DPE.

Looking ahead, IRFC anticipates further benefits from diversified lending and new project agreements with Indian Railways post-moratorium. The company is exploring co-financing with multilateral agencies, refinancing of rail-linked projects, and expansion into sectors like metro rail, renewable energy, logistics, and ports.