Indian Railway Catering & Tourism Corporation Limited (IRCTC) is a Central Public Sector Enterprise that specializes in rail tourism and is authorized by Indian Railways to offer catering services, online ticket booking, and packaged drinking water at railway stations and trains. The company operates a website, www.irctc.co.in and diversified into non-railway catering and services.
On 29 May 2023, Monday, IRCTC released its Q4 earning report. Total Income from operations as reported was up 5.1% Q-o-Q to Rs. 965.02 in the Q4 quarter from the previous quarter. Total income was up 40% from the same quarter the previous year from Rs. 690 cr. Operating margin has been steadily coming down which was 38.25% in the same quarter last year (Q4 FY22) to 32.47% in Q4 FY23.
Profit from operations before other income, finance costs, and exceptional items saw negative growth Q-o-Q of -0.6467362.
Revenues from the Rail Neer segment jumped 33% to Rs 73 cr as against Rs 55 cr in the last-year period, while the internet ticketing business saw a minimal increase to Rs 295 cr from Rs 293 cr in the last fiscal.
Net profit from ordinary activities after tax for Q4 rose 9% to Rs. 278.80 cr. Q-o-Q on a standalone basis.
Promoter holding in the company has come down from 67.4% in FY22 to 62.4% by the end of FY23.
The Board recommends a final dividend of Rs 2/- equity share for March 2023, which is 100% of the paid-up share capital. Q4 dividend is in addition to the interim dividend of Rs 3.50/- share declared by the Board of Directors in the month of February 2023.
The stock was down 2% to Rs. 632 at the time of publishing the article.
|Standalone Quarterly P/L||Mar-23||Dec-22||Sep-22||Jun-22||Mar-22|
|Total Income from operations||965.02||918.06||805.8||852.59||690.96|
|Profit from operation before OI, finance costs and exceptional items||313.39||315.43||286.3||307.37||264.35|
|Operating Margin (%)||32.47||34.36||35.53||36.05||38.26|