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.

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