Home >Companies >Company Results >IRCTC's Q4 net profit soars 80% to 150.6 cr; announces dividend of 2.50
(Photo: ANI)
(Photo: ANI)

IRCTC's Q4 net profit soars 80% to 150.6 cr; announces dividend of 2.50

However, on sequential terms the company saw 26.6% dip in net profit, which might be attributed to the coronavirus-induced lockdown imposed in March

New Delhi: Indian Railway Catering and Tourism Corporation (IRCTC) on Friday reported 79.3% jump in its net profit for the quarter ending 31 March, 2020 but it took a hit with the lockdown that was imposed in March.

The state-owned company reported net profit of 150.6 crore as against 84 crore in the year-ago period.

However, on sequential terms the company saw 26.6% dip in net profit, which might be attributed to the coronavirus-induced lockdown imposed by the Centre in the last week of March. In December quarter, IRCTC had reported net profit of 206 crore.

IRCTC's revenue from operations during the quarter increased almost 18% to 587 crore as compared to 498 crore in March 2019.

The company also announced dividend of 2.50 per share.

When looked on sequential basis, the impact of lockdown in March has had an impact on almost every segment of IRCTC's operations.

The catering revenue decreased 12% to 236 crore in March 2020 as against 269 crore in December 2019.

The revenue from the sales of its bottled water brand Rail Neer took a 13% dip at 51 crore as against 58.6 crore a quarter ago.

IRCTC's revenue from internet ticketing dropped 15% to 194 crore as compared to 227 crore in December 2019.

However, the revenue from tourism increased 7% to 102 crore as against 95 crore in December 2019.

On Friday, the IRCTC scrip on BSE closed 1% higher at 1,399.

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