Indian Railway Finance Corporation (IRFC) posted a 10% YoY increase in its Q2 net profit at ₹1,777 crore, even though revenue fell ~8%. The result reflects stronger margins and cost control despite softening demand. The company also declared a dividend of ₹1.05 per share. Observers noted that IRFC’s robust performance helps reaffirm the viability of rail infrastructure financing in an environment of rising rates. Capital deployment plans and asset-liability strategies will be closely watched in FY26.