Breaking News: IRCTC Q4 Results Revealed! Watch Now for Exclusive Insights!
The IRCTC Q4 Results! Recently unveiled figures, highlighting a 2% increase in net profit to Rs 284 crore and a remarkable 19% YoY rise in revenue.
Indian Railway Catering and Tourism Corporation (IRCTC) announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Tuesday, May 28, reporting a rise of two percent in its consolidated net profit at Rs 284 crore, compared to Rs 279 crore in the corresponding period last year.
The Indian Railways’ e-ticketing and catering arm reported a 19 percent rise in revenue from operations to Rs 1,155 crore in the March quarter, compared to Rs 965 crore in the year-ago period. The public sector undertaking (PSU) of Rs 4 per share, at 200 percent of the paid-up share capital, of face value of Rs 2 each for FY24, subject to the approval of shareholders.
The final dividend is in addition to the interim dividend of Rs 2.50 per share (at 125 percent of the paid-up share capital) declared by the board of directors in November 2023 and already paid to the shareholders, said IRCTC in a regulatory filing to the stock exchanges.
On an operating level, the railway PSU’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 11.6 percent to Rs 362.4 crore, compared to Rs 324.6 crore in the same period last year. Margin came in at 31.4 percent compared to 33.6 percent in the year-ago period.
The contribution of internet ticketing to overall revenue decreased to 31 percent from 32.8 percent last year and 37.1 percent in FY23. IRCTC’s catering business, which is the second-largest revenue contributor grew 34.1 percent to Rs 530.8 crore. The revenue growth in its Rail Neer packaged drinking water unit stood at 13.1 percent to Rs 83 crore and in its tourism unit at 11.6 percent to Rs 154.6 crore.
IRCTC announced last month that train passengers travelling in unreserved compartments are now getting hygienic meals and snacks at affordable prices at stations under a new initiative by the national transporter. These meal counters are operational at over 100 stations and nearly 150 counters across the railway network and the facility will be expanded further.
The company meal costs Rs 20 and the snack meal comes at Rs 50. Passengers can buy their refreshments directly from these counters, eliminating the need to search for vendors or venture outside the station. Ahead of the announcement of Q4 results, shares of IRCTC settled 1.60 percent lower at Rs 1,082.70 apiece on the BSE.
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