IRCTC Stuns Market With 168% Profit Growth; Earned Rs 2.3 Core/Day In 90 Days

IRCTC's EBITDA rallied 195% YoY to Rs 279.2 crore in Q3 FY22
IRCTC’s EBITDA rallied 195% YoY to Rs 279.2 crore in Q3 FY22

The e-ticketing platform for Indian Railways, Indian Railway Catering and Tourism Corporation reported strong earnings numbers for the December ending quarter on Tuesday, led by contribution from all the segments.

As a result, the state-run major’s share price surged upto 4% on Wednesday.

IRCTC Q3 FY22 Results

The ticketing major’s net profit jumped a whopping 168% on a YoY basis, and 32% sequentially to Rs 209 crore for the quarter-ending Dec 2021, and its revenue from operations surged 141% YoY and 33.4% sequentially to Rs 540 crore in the quarter.

The net profit surge is led by the company’s low base in the year-ago period and strong contribution from all segments.

The company’s EBITDA rallied 195% to Rs 279.2 crore in Q3 FY22, compared to Rs 94.65 crore in the year-ago period.

Its internet ticketing segment, contributing largest to its overall business revenue jumped 118% YoY to Rs 312 crore in the Dec-quarter. The second-largest such segment, the catering services vertical, jumped 117% YoY to Rs 104 crore, while the tourism segment revenue surged 353% YoY to Rs 68 crore in the quarter under focus.

On the other hand, IRCTC’s other income declined 24% to Rs 16 crore in Q3 FY22 on a YoY basis.

The company’s total expenses for the financial year has climbed from Rs 141 crore to Rs 275 crore on a YoY basis.

IRCTC Board Declares Interim Dividend

Besides reporting impressive quarterly results for the Oct-Dec 2021 period, the ticketing major’s board of directors have also announced an interim dividend of Rs 2 per equity share of face value of Rs 2 for FY22. 

The record date for payment of interim dividend is set for February 18, 2022.

“The outbreak of Covid-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. However, the business activities of the company are going gradually on track in line with the lifting of restrictions as were imposed by the state and central governments,” stated IRCTC in a BSE filing.

Comments are closed, but trackbacks and pingbacks are open.

who's online