IRCTC Q4 results: Share price gains over 3% ahead of earnings
- Analysts expect IRCTC’s net profit during the fourth quarter of FY23 to be around ₹260 crore, registering a growth of 19% from ₹217 crore in the corresponding quarter of last year.
IRCTC share price gained over 3% on Friday ahead of the release of company’s earnings for the quarter ending March 2023. The stock gained as much as 3.62% to ₹647.00 apiece on the BSE.
Indian Railway Catering and Tourism Corporation Ltd (IRCTC), the ticketing arm of Indian Railways, will announce its results for Q4FY23 today.
Analysts expect IRCTC’s net profit during the fourth quarter of FY23 to be around ₹260 crore, registering a growth of 19% from ₹217 crore in the corresponding quarter of last year.
The company’s revenue is expected to rise by 36% to ₹940 crore from ₹691 crore, YoY, led by traction in catering business and non-convenience income.
At the operational level, earnings before interest, taxes, depreciation, and amortization (EBITDA) is likely to decline to around ₹253 crore from ₹277 crore, while EBITDA margin may weaken to around 30% from 40.13% due to falling contribution of high margin ticketing business.
IRCTC is the only provider of ticketing, catering and tourism services to Indian Railways.
For the quarter ended December 2022, IRCTC had reported a consolidated net profit of ₹256 crore, up 22.8% from ₹208 crore reported in the last year period.
Revenue from operations in Q3FY23 increased 70% to ₹918 crore as against ₹540 crore, YoY.
The company had also declared an interim dividend of ₹3.50 per share, which was 175% of the paid-up share capital amounting to ₹160 crore.
IRCTC share price has eased 0.7% this year so far, while it has fallen 2.65% in the last one year period.
At 2:55 pm, the shares of IRCTC were trading 13.04% higher at ₹643.30 apiece on the BSE.
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