Indian Railway Catering and Tourism Corporation (IRCTC), the catering and ticketing arm of the Indian Railways, reported December quarter earnings on Tuesday. For the quarter under review, the company’s standalone net profit stood at Rs 341 crore, up nearly 14 percent from Rs 299.9 crore reported in the same period last year.
The topline also rose to Rs 1,224.65 crore, reflecting a growth of nearly 10 percent over the same period last year. In Q3FY24, the state-run entity’s revenue from operations stood at Rs 1,115.4 crore.
The total expenses of the railway entity also rose during the quarter under review to Rs 824.28 crore in the December quarter of the current fiscal from Rs 740.17 crore in the same period last fiscal. IRCTC’s total expenses stood at Rs 707.26 crore in the September quarter. Also, on the operations front – the company reported EBITDA or earnings before interest, tax, depreciation, and amortization of Rs 470 crore as against Rs 420.26 crore in the same period last year.
IRCTC Dividend Announcement Along with the company’s third quarter earnings, IRCTC also declared a second interim dividend of Rs 3 per share for the current financial year. The record date for determining shareholders’ eligibility for the dividend payout has been fixed as February 20.
IRCTC Share Price Performance Ahead of its third quarter earnings later today, the stock closed 3 per cent lower at Rs 751.25 per share. In the last one year, the stock has declined over 20 percent.
IRCTC put up a strong performance in the December quarter, reporting a 14 percent increase in net profit
