IRCTC's Q2 net profit rises 30% to Rs. 295 crore
The Indian Railway Catering and Tourism Corporation (IRCTC) has announced a net profit of Rs. 294.67 crore for Q2 of FY24. This marks a 30.36% growth compared to Rs. 226.03 crore during the same period last fiscal year. As per a regulatory filing, the company's total revenue experienced a 23.51% jump, reaching Rs. 995.31 crore, up from Rs. 805.80 crore in the corresponding quarter of the previous year.
EBITDA margin stood at 36.8%
For the September quarter, IRCTC's earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to Rs. 366.5 crore. This is a 20.2% rise from Rs. 304.9 crore in the same quarter a year ago. The EBITDA margin was 36.8%, slightly below the 37.8% reported in the corresponding quarter of the previous fiscal year.
Segment-wise business performance
State teertha sales surged 119% to Rs. 64.84 crore from Rs. 29.62 crore in the previous year. Internet ticketing sales increased by 9% to Rs. 327.50 crore due to robust railway ticket sales as travel demand recovered, compared to Rs. 300 crore in the same quarter last year. Catering, the second-largest revenue contributor, saw a 29% YoY sales growth to Rs. 431.5 crore. Tourism segment sales also jumped by 39% YoY to Rs. 96.55 crore.
Share performance and record date
The board has approved an interim dividend of Rs. 2.50 per equity share with a face value of Rs. 2 each for FY24, totaling 125% of the paid-up share capital or Rs. 160 crore. The board established November 17, 2023, as the record date for the interim dividend payment for FY24. The Q2 FY24 financial results were released after market hours. IRCTC's shares closed 1.68% higher at Rs. 682.75 on the NSE on November 7.
