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Tuesday, April 16, 2024

IRCTC share price drops over mixed Q4 result

IRCTC has reported a mixed set of financial results for the quarter ending in March 2023, with a consolidated profit of Rs 278.8 crore and revenue of Rs 942 crore. It has proposed a dividend distribution of Rs. 2 per share for the fiscal year.

On Tuesday, investors sold down shares of Indian Railway Catering and Tourism Corporation (IRCTC), a day after the organization revealed a mixed set of financial results for the quarter that ended in March 2023. IRCTC is the only company in the country that has been granted permission by the Indian Railways to provide online booking services for train tickets and to operate the catering services onboard trains.

In early trading on BSE, IRCTC share price dropped as much as Rs 20.6, which is equivalent to 3.2 percent, to a price of Rs 625 per.

IRCTC’s Fourth Quarter results

IRCTC said after the market closed on Monday that it has achieved a consolidated profit of Rs 278.8 crore for the period covering January to March. This figure represents an increase of 30.4% in comparison to the same period in the previous year. According to a regulatory filing, the company’s sales reached 965 crore rupees, representing a year-on-year increase of 39.7 percent.

According to research conducted by Zee Business, it was anticipated that IRCTC would record a consolidated net profit of Rs 258.6 crore for the three-month period as well as revenue of Rs 942 crore.

For the quarter ending in March, the company’s margin came in at 33.6 percent, which was a decrease of 671 basis points compared to the same time a year earlier and was lower than the analysts’ projection of 35.7 percent, which was 35.7 percent.

IRCTC sector revenue

  1. Catering had a growth of 49%, reaching Rs 395.8 crore in revenue.
  2. Rail Neer is now worth 73.4 crore rupees, representing a growth of 49%.
  3. Ticketing through the internet saw a one percent increase, reaching Rs 295.1 crore.
  4. Tourism revenue increased by 155% to 138.5 crore rupees.
  5. Increase of 154 percent, reaching 65.4 crore rupees for State Teertha.  

Given that each share has a face value of Rs. 2, the board of directors of IRCTC has proposed a dividend distribution of Rs. 2 per share for the fiscal year that ended in March 2023. This represents a payout ratio of 100 percent. The distribution of Rs 3.5 was already declared back in February 2023, but this dividend was in addition to that.

Taushif Patel

Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

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