IRFC Q2 FY27: Revenue up 23%, interim dividend announced

What IRFC’s board approved on 15 October 2026

Indian Railway Finance Corporation (IRFC), a Government of India enterprise and the financing arm of Indian Railways, reported that its Board of Directors met on 15 October 2026 to consider and approve key financial disclosures and shareholder payouts. The board approved the company’s unaudited financial results for the quarter and half-year ended 30 September 2026. The results were reviewed by the Audit Committee and include the Cash Flow Statement and the Statement of Assets and Liabilities as of end-September 2026. IRFC also said it issued a press release accompanying the financial results.

Alongside the results, the board declared an interim dividend for FY2026-27. The filings and updates in the provided information reflect different dividend figures, including ₹1 per equity share and ₹1.15 per equity share (face value ₹10 each). Separately, another update referenced a dividend of ₹0.80 with an ex-date of 23 October 2026. What remains consistent across the information is the timeline around the board decision and the record date.

Interim dividend: record date and payment timeline

IRFC fixed 23 October 2026 as the record date for determining shareholders eligible for the interim dividend. The company said the interim dividend will be paid to shareholders whose names appear as beneficial owners in depository records or as members in the register of members as of that record date. The dividend payment is expected to be completed within 30 days from the date of declaration.

The information set also includes a corporate action notice indicating the board would consider dividend at the 15 October meeting, and repeated references that eligibility would be determined based on the 23 October record date. This aligns with standard market practice in India, where the record date helps determine which shareholders receive the declared dividend.

Revenue growth: operations rise 23.45% year-on-year

For the September quarter of FY27, IRFC’s revenue from operations rose 23.45% year-on-year to ₹7,866.41 crore, compared with ₹6,371.89 crore in the corresponding period of the previous fiscal year. This growth is one of the key takeaways from the quarter’s unaudited results.

The broader quarterly income trend cited in the provided data also shows total income levels across recent quarters, including June 2026 total income of ₹8,391.34 crore and March 2026 total income of ₹7,328.68 crore. While “total income” and “revenue from operations” are not the same metric, these figures collectively point to an improving topline profile through the recent quarters.

Profitability update: net profit up 10.21% in Q2 FY27

IRFC reported a 10.21% year-on-year increase in net profit to ₹1,958.4 crore in the September quarter of FY27. The net profit increase was presented as a year-on-year change for the quarter.

Another data point included in the provided material relates to the June 2026 quarter, when net profit rose 10.40% year-on-year to ₹1,927.21 crore compared with ₹1,745.69 crore in June 2025. These numbers suggest that IRFC’s profit growth remained positive across consecutive quarters covered in the material.

Exchange filings and disclosures: what the company communicated

IRFC’s exchange communication stated that the board meeting was scheduled to consider and approve unaudited financial results for the quarter and half-year ended 30 September 2026, including the cash flow statement and the statement of assets and liabilities. The same filing stated the board would consider and declare an interim dividend to shareholders for FY2026-27.

The material also references an “Announcement under Regulation 30 (LODR)” related to newspaper publication of unaudited financial results, consistent with listed-company disclosure obligations. After the board took the results on record, IRFC issued a press release alongside the financials, as noted in the information.

Dividend history context mentioned in the dataset

The provided information includes references to earlier interim dividends, which offers context on IRFC’s past payout actions. For FY2025-26, the board had approved a second interim dividend of ₹1.05 per equity share (face value ₹10 each), with 13 March 2026 set as the record date and payment expected within 30 days. Another entry mentions that for FY2024-25, IRFC declared a second interim dividend of ₹0.80 per share, with a record date of 21 March 2025.

This history matters because it shows IRFC has used interim dividends as a recurring shareholder distribution mechanism. However, within the provided information for FY2026-27, multiple dividend values are referenced (₹1, ₹1.15, and ₹0.80), so investors typically rely on the final exchange filing and corporate action details to confirm the exact per-share amount.

Market-related data points: quarterly income and growth markers

In addition to the Q2 FY27 revenue and profit metrics, the information set cites that the company witnessed quarter-on-quarter revenue growth of 14.5%, described as the highest in the last three years, based on standalone financials. It also includes a table of total income across quarters such as June 2026, March 2026, December 2025, September 2025, and June 2025.

While these data points are not a complete financial statement, they add context around trajectory and reported growth rates. Investors typically compare these trends with management commentary and the cash flow statement, which IRFC highlighted as part of its approved financial package.

Key facts at a glance

What investors typically track next

After a board-approved interim dividend, shareholders usually track the record date and the effective corporate action timelines to understand eligibility. The material clearly states that 23 October 2026 is the record date for FY2026-27 interim dividend eligibility. It also states the dividend payment is expected to be completed within 30 days from the declaration date.

On the results side, the focus remains on how revenue from operations and net profit changed year-on-year for the September quarter. IRFC’s disclosure that the Audit Committee reviewed the results, and that the package includes cash flow and balance sheet statements, indicates that the board’s approval covered the full set of interim financial statements referenced in the filing.

Conclusion

IRFC’s 15 October 2026 board meeting combined two market-moving updates: approval of unaudited financial results for the quarter and half-year ended 30 September 2026, and declaration of an interim dividend for FY2026-27. The company reported revenue from operations of ₹7,866.41 crore and net profit of ₹1,958.4 crore for the September quarter, alongside a record date of 23 October 2026 for dividend eligibility. The next operational milestone for shareholders is the completion of dividend payment, which IRFC expects within 30 days from the date of declaration.