Q4 Net Profits: IRCTC's net profit climbs 2%

29 May 2024 CW Team

For the fourth quarter of 2024, Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) reported a net profit of Rs 2.84 billion. The company's activities generated revenue of Rs 11.55 billion in the March quarter, up 17% from Rs 9.65 billion during the same time the previous year.

Subject to the agreement of the shareholders at the Annual General Meeting (AGM), the board of directors has proposed the final dividend of 4 per share on the face value of 2 per share for the fiscal year 2023?2024. The interim dividend of X 2.50 per share (face value of X 2/- per share) issued in November 2023 is in addition to the recommended final dividend. This indicates that the total dividend for the financial year 2023?24 was 6.50 per share on the face value of 2 per share, as the filing showed.

The state-run railway entity's?EBITDA (earnings before interest, tax, depreciation, and amortisation) saw an increase of 11.6% to Rs 3.62 billion, compared to Rs 3.24 billion in the same quarter of last year. The filing showed that the overall contribution of internet ticketing has declined to 31% from 32% last year and 37% in the financial year 2023.

The catering business grew 41.1% to Rs 5.30 billion. The revenue of the packaged drinking water, Rail Neer, sold by the company grew by 13.1% to Rs 0.83 billion, and in its tourism unit by 11.6% to Rs 1.54 billion. The stake of the government in the PSU stands at 62.4% as of the second quarter of the financial year 2024.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..