IRCTC's Q1 profit surges by 33%, revenue up by 12%
The Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has reported a significant rise in its net profit for the first quarter of the fiscal year 2024-25. The company's net profit soared by 33.3% to ₹308 crore, compared to the same period last year. This increase is primarily attributed to a surge in ticket sales, as disclosed in a regulatory filing on Tuesday.
IRCTC's revenue rises by 11.8% in Q1
Alongside its net profit, IRCTC also witnessed an increase in revenue during the first quarter. The company's revenue rose by 11.8% to reach ₹1,120.15 crore. IRCTC's earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter stood at ₹428.55 crore, marking a growth of nearly 30%. Despite this minor shortfall, the overall financial performance of IRCTC remains strong with consistent growth in both net profit and revenue.
IRCTC's market capitalization and share performance
As per the Bombay Stock Exchange, the market capitalization of IRCTC currently stands at ₹73,340 crore. Today, shares of IRCTC were trading at ₹922.05 apiece on BSE, marking a decrease of 0.3%. Over the past three months, the stock has seen an approximate fall of around 8%. Despite these fluctuations in share prices, IRCTC's overall financial health remains robust due to its strong net profit and revenue growth.
IRCTC's service expansion and ownership structure
IRCTC, the only entity authorized by the Indian government to provide online railway tickets, catering services to railways, and packaged drinking water at railway stations and trains in India, has expanded its services over the years. It now offers a wide range of tourism and hospitality offerings as well. The Indian government owns 62.4% of the shares in the company as of Q2FY24 while foreign portfolio investors and domestic institutional investors each own 7.1% and 10.5%, respectively.
