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IRCTC Q4 Results 2023 Posts 30% Rise – Profit at Rs 279 crore, declares final dividend

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IRCTC Q4 Results 2023: In comparison to the same quarter in the prior fiscal year, the company’s revenue from operations increased by 39.6% to Rs 965 crore for the quarter under review.

IRCTC Q4 Results 2023
IRCTC Q4 Results 2023

IRCTC announced on May 29 that its standalone net profit for the three months ended March 31, 2023, increased by 30.4 percent year over year (YoY) to Rs 279 crore. In the same period last year, the Indian Railways’ tourism and ticketing division reported a net profit of Rs 214 crore.

In comparison to the same quarter last fiscal year, the company’s operating revenue increased 39.6% to Rs 965 crore for the quarter under review.

IRCTC Q4 Results 2023

In the March quarter of this fiscal year, the company’s earnings before interest, taxes, depreciation, and amortization, or EBITDA, increased by 16.5 percent to Rs 324.6 crore from Rs 278.5 crore in the corresponding quarter last year. The margin was 33.6 percent as opposed to 40.3 percent (YoY).

Additionally, the catering segment’s revenue increased 49% year over year to Rs 396 crore from Rs 266 crore in the March quarter of the previous year.
Revenues from the Rail Neer segment increased by 33% to Rs 73 crore from Rs 55 crore in the same period last year, and revenues from internet ticketing increased by 17% to Rs 295 crore from Rs 293 crore.

The board of IRCTC has also recommended a final dividend for the fiscal year 2022–2023 of Rs 2 per equity share with a face value of Rs 2.
In the meantime, ahead of the earnings report, IRCTC shares on May 29 closed 3.40 percent higher at Rs 645.60 per share on the BSE.

IRCTC’s earnings in the first year after the pandemic show a strong revival in most of the businesses, according to our Pro Research team. This is evidenced by the 40 percent topline growth in the final quarter and 88 percent for the entire year.

While internet ticketing kept things running during the pandemic, catering and tourism have been driving the recovery in FY23. The ticketing industry was impacted by the elimination of the 2S category, particularly in the second half. IRCTC Q4 Results 2023

“The company’s overall margin was suppressed by the relatively smaller share of internet ticketing business with an extremely high margin. Operating margin decreased by 190 basis points sequentially in Q4 and by more than 10% overall. We anticipate that IRCTC’s non-ticketing businesses will continue to be its main growth engines going forward.

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