Home / News / India /  IRCTC Q3 profit jumps to 256 cr, declares interim dividend

IRCTC, the tourism and ticketing arm of Indian Railways, on Thursday reported a consolidated net profit of 256 crore for the December quarter (Q3FY23), up 22.8% from 208 crore reported in the last year period.

On a sequential basis, net profit after tax rose 13% from 226 crore clocked in the September quarter (Q2FY23).

Revenue from operations has also soared 70% to 918 crore for the December quarter as against 540 crore in the corresponding quarter of last fiscal.

The company's total expenses more than doubled in quarter under review, rising 121% to 607 crore as compared to 274 crore in the year-ago period.

The company has also declared an interim dividend of 3.50 per share, which is 175% of the paid-up share capital amounting to 160 crore.

The company has fixed Wednesday, 22 February, 2023 as record date for the purpose of payment of the said dividend for financial year 2022-23.


IRCTC has clocked a strong revenue growth from all the segments, barring the internet ticketing business. Segment-wise, the revenue from catering segment surged 275% YoY to 394 crore as against 105 crore in the December quarter of last fiscal.

Revenues from the rail neer segment rose 55% to 79 crore in the reported quarter as compared to 51 crore in the same period a year ago.

Meanwhile, the internet ticketing business reported 4% drop in revenues to 301 crore during the December quarter as against 313 crore in the year-ago period.

The tourism business recorded a solid jump of 79% YoY in revenue at 122 crore as against 68 crore in the year-ago period.

Brokerage's first cut on IRCTC Q3

Jinesh Joshi, Research Analyst at Prabhudas Lilladher Pvt Ltd -- The stock currently trades at 47.5x of our FY24E EPS estimate of 13.5. We currently have a HOLD rating on the stock with a Target Price of 679.

On Tuesday, shares of IRCTC rose 0.72% to trade at 645.90 apiece on NSE.

Meghna Sen
Meghna Sen is a deputy chief content producer at Livemint where she tracks markets, companies. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
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