IRCTC shares fall after Indian Railways ticketing arm stages mixed Q4 performance, announces dividend
IRCTC share price: Indian Railway Catering and Tourism Corporation (IRCTC) shares fell on Tuesday, a day after the company — the only firm authorised by the Indian Railways to offer online railway ticket booking services in the country and manage food services on trains — reported a mixed set of Q4 results.
IRCTC share price: Indian Railway Catering and Tourism Corporation (IRCTC) shares fell on Tuesday, a day after the company reported a mixed set of financial results or the quarter ended March 2023. IRCTC is the only firm authorised by the Indian Railways to offer online railway ticket booking services in the country and manage food services on trains.
IRCTC shares declined by as much as Rs 20.6 or 3.2 per cent to Rs 625 apiece in early deals on BSE.
IRCTC Q4 results
After market hours on Monday, IRCTC reported a consolidated profit of Rs 278.8 crore for the January-March period, marking a jump of 30.4 per cent compared with the corresponding period a year ago. Its revenue grew 39.7 per cent on a year-on-year basis to Rs 965 crore, according to a regulatory filing.
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According to Zee Business research, IRCTC was expected to report a consolidated net profit of Rs 258.6 crore for the three-month period and revenue of Rs 942 crore.
Its margin came in at 33.6 per cent for the March quarter — a decline of 671 basis points compared with the year-ago period, as against the analysts' estimate of 35.7 per cent.
IRCTC segment revenue
- Catering: up 49 per cent at Rs 395.8 crore
- Rail Neer: up 49 per cent at Rs 73.4 crore
- Internet ticketing: up one per cent at Rs 295.1 crore
- Tourism: up 155 per cent at Rs 138.5 crore
- State Teertha: up 154 per cent at Rs 65.4 crore
IRCTC's board recommended a dividend of Rs 2 per share for the financial year ended March 2023 — a 100 per cent payout given the face value of Rs 2 per share. The dividend was in addition to the payout of Rs 3.5 announced in February 2023.
(This story will be updated shortly)
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