IRCTC shares register mild gains after in-line Q3 results
IRCTC shares clocked mild gains on Wednesday, shrugging off an overall weak trend in the market, after the state-run company reported a set of quarterly financial results that met analysts' expectations.
Indian Railway Catering and Tourism Corporation (IRCTC) shares rose on Wednesday, shrugging off oceans of weakness on Dalal Street, after the public sector company reported a set of quarterly numbers that largely met analysts' expectations. The IRCTC stock gained by as much as Rs 12.2, or 1.3 per cent, to Rs 923 apiece on BSE.
After market hours on Wednesday, IRCTC reported a consolidated net profit of Rs 300 crore for the quarter ended December 31, 2023, up 17.4 per cent on a year-on-year basis. Its revenue grew 22 per cent to Rs 1,118.3 crore for the quarter under review, according to a regulatory filing.
The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 21 per cent to Rs 394 crore for the fiscal third quarter, while margin, a key measure of profitability, stood at 35.2 per cent.
According to Zee Business research, IRCTC's third-quarter net profit was estimated at Rs 305 crore, revenue at Rs 1,080 crore, EBITDA at Rs 380 crore and margin at 35.2 per cent.
Revenue from the PSU's catering and internet ticketing units increased 29 per cent and 11.4 per cent to Rs 508 crore and Rs 335.3 crore respectively, according to the filing. While revenue from packaged drinking water Rail Neer increased 6.3 per cent to Rs 84 crore, that from its tourism and State Teertha businesses grew 36.2 per cent and 10 per cent to Rs 167.5 crore and Rs 28 crore, respectively.
(This story will be updated shortly)
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10:32 AM IST