IRCTC Stock Falls 5% On Muted Q4 Earnings
IRCTC revenue from the operations rises to Rs 1155 crore, an increase of 17 per cent in the March quarter, whereas the net profit in the fourth quarter stands at Rs 284 crore
The stock of Indian Railway Catering and Tourism Corporation (IRCTC) declined almost 5 per cent in the Wednesday trading session after the firm declared its Q4 earnings with muted numbers.
The stock traded at Rs 1,035 with 4.45 per cent in the morning trading session on the National Stock Exchange (NSE).
IRCTC revenue from the operations rose to Rs 1155 crore, an increase of 17 per cent in the March quarter compared to Rs 965 crore in the same period of last year, whereas the net profit in the fourth quarter stood at Rs 284 crore.
The board of directors recommended the final dividend of 4 per share on the face value of 2 per share for the financial year 2023-24, subject to the approval of the shareholders in the Annual General Meeting (AGM).
The state-run railway entity's EBITDA (Earnings before interest, tax, depreciation and amortisation) saw an increase of 11.6 per cent to Rs 362.4 crore, compared to Rs 324.6 crore in the same quarter of last year.
The filing showed that the overall contribution of internet ticketing has declined to 31 per cent from 32 per cent last year and 37 per cent in the financial year 2023.
The catering business grew 34.1 per cent to Rs 530.8 crore.
The revenue of the packaged drinking water, Rail Neer, sold by the company grew by 13.1 per cent to Rs 83 crore and in its tourism unit by 11.6 per cent to Rs 154.6 crore.
The stake of the government in the PSU stands at 62.4 per cent as of the second quarter of financial year 2024.
According to the Bombay Stock Exchange, IRCTC's market capitalisation stands at Rs 87,152 crore. (ANI)
