IRCTC Posts Turnaround Results In June Quarter, Reports Profit Of Rs 82 Crore
The Indian Railways Catering and Tourism Corporation (IRCTC) announced its April-June quarter results for the financial year 2021-22, reporting a net profit of Rs 82.52 crore, compared to a net loss of Rs 24.60 crore in the corresponding quarter last year.
Shares of IRCTC touched a record high of Rs 2.727 on the BSE after the company announced that it returned to profit in the June quarter. On Thursday, IRCTC opened on the BSE at Rs 2,595, swinging to an intra day high of Rs 2,727.95 and an intra day low of Rs 2,571.70, in the trading session so far.
The Indian Railways' e-ticketing and catering arm's revenue from operations in the first quarter of the current fiscal stood at Rs 243 crore, compared to Rs 131 crore in the corresponding period last year, marking a growth of 85.4 per cent year-on-year. IRCTC's board also approved a stock split of 5:1, subject to the approval of the Railway Ministry.
In terms of segment-wise revenue, IRCTC's revenue from catering declined 37 per cent to Rs 56 crore in the June quarter, compared to Rs 89 crore in the year-ago period. The company's internet ticketing revenues stood at Rs 149 crore during the quarter, compared to Rs 35 crore in the year-ago period.
On the NSE, IRCTC opened at Rs 2,593.95, registering an intra day high of Rs 2,728.85 and an intra day low of Rs 2,572.25, in the session so far. It was last trading 4.54 per cent higher at Rs 2,689.05 on the NSE.
Shares of IRTCTC were last trading 4.45 per cent higher at Rs 2,686.05 on the BSE.
IRCTC is a wholly-owned subsidiary of the Indian Railways and provides e-ticketing, tourism, and catering services for passengers. It got listed on the stock exchanges in 2019 and the government holds a 67 per cent stake in the company.
