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.