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IRCTC Q3 results: Dividend declared, here’s what shareholders will get as net profit rises 20%, revenue jumps

09 Feb , 2023   By : Monika Singh


IRCTC Q3 results: Dividend declared, here’s what shareholders will get as net profit rises 20%, revenue jumps

IRCTC on Thursday reported over 20% on-year growth in net profit from continuing operations to Rs 255.52 crore in the fiscal third quarter of FY23, rising from Rs 208.80 crore in the same quarter last year. The Indian Railways-owned Indian Railway Catering and Tourism Corporation also declared an interim dividend of Rs 3.50 per share on Equity Shares of face value of Rs 2 each for the financial year 2022-23, ie, 175% of the paid-up share capital amounting to Rs 160 crore. The company’s revenue from operations in the October-December quarter jumped 70% to Rs 918.06 crore in Q3FY23 from 540.21 crore in Q3FY22.



IRCTC share price rose 1.20% to Rs 648.75 after the results announcement. IRCTC has fixed February 22 as the record date to pay the interim dividend for the ongoing fiscal. The company clocked strong revenue growth from all the segments, except the internet ticketing business.



On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped 16.7% to Rs 325.8 crore from Rs 279.2 crore. Total comprehensive income for the quarter ended December 2022 jumped to Rs 255.82 crore from Rs 209.36 crore in the same period the previous year. On a sequential basis, the profit after tax from continuing operations surged 13% in the third quarter from Rs 226 crore reported in the preceding September quarter.



Revenue rose 13% quarter-on-quarter from Rs 806 crore in the September quarter. Segment-wise, the revenue from the catering segment rose 275% on-year to Rs 394 crore. Revenues from the rail neer segment rose 55% to Rs 79 crore in the quarter under review as against Rs 51 crore in the year-ago period. On the flip side, the internet ticketing business recorded a 4?ll in revenues to Rs 301 crore during the December quarter, compared with Rs 313 crore in the same period the previous year. The tourism segment saw a robust growth of 79% on-year in revenues at Rs 122 crore. It was Rs 68 crore in the year-ago period. The company’s total expenses doubled in this quarter, rising 121% to Rs 607 crore as against Rs 274 crore in the previous year’s October-December quarter.



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