Earnings Review
IRCTC Oct-Dec PAT highest since 2018 on strong sales growth
This story was originally published at 18:09 IST on 11 February 2025
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--IRCTC Oct-Dec net profit INR 3.41 bln vs INR 3.00 bln year ago
--IRCTC Oct-Dec revenue INR 12.25 bln vs INR 11.15 bln year ago
--IRCTC to pay INR 3 per share interim dividend
--IRCTC Apr-Dec net profit INR 9.57 bln vs INR 8.27 bln year ago
--IRCTC Apr-Dec revenue INR 34.06 bln vs INR 31.08 bln year ago
--IRCTC Oct-Dec catering revenue INR 5.55 bln vs INR 5.08 bln on year
--IRCTC Oct-Dec rail neer revenue INR 963.56 mln vs INR 837.66 mln year ago
--IRCTC Oct-Dec web ticketing revenue INR 3.54 bln vs INR 3.35 bln year ago
--IRCTC Oct-Dec tourism revenue INR 2.24 bln vs INR 1.93 bln year ago
By Akshita Kumar
MUMBAI – Strong growth in topline driven by a robust performance across segments boosted the earnings of Indian Railway Catering and Tourism Corp. Ltd. for the December quarter. The tourism services company booked its highest revenue and net profit since at least 2018, according to the data available with Informist.
The company's net profit grew 14% on year to INR 3.41 billion during the quarter under review. IRCTC's net profit has grown for 14 quarters, barring the June quarter of 2023, when it fell over 5% on year. Apart from higher revenue, a one-time exceptional loss of INR 145 million in the year-ago quarter also aided the net profit growth for the latest quarter. IDBI Capital had expected the company to report a bottom line of INR 3.43 billion, while broking firm Prabhudas Lilladher expected the company to report a bottom line of INR 3.24 billion.
IRCTC's revenue for the quarter grew 10% on year to INR 12.25 billion, offseting the impact of an 18% on-year rise in expenses towards catering services. The company's revenue has grown for 15 straight quarters since the June quarter of 2021. Expenses on catering services for the December quarter were INR 4.11 billion. On the other hand, the company's input costs, or cost of material consumed, fell by 11% on year to INR 162 million during the December quarter. Sequentially, the top line rose 15% and the bottom line rose 11%.
The company's board has declared an interim dividend of INR 3 per share, and set Feb. 20 as the record date.
The company's total income for the quarter was INR 12.81 billion, up 10% on year. Total expenses rose 11% to INR 8.24 billion and expenses of tourism rose 10% on year to INR 1.61 billion. The company's manufacturing and direct expenses for the quarter were INR 470 million, up nearly 8% on year.
Revenue of the company's catering segment grew 9% on year to INR 5.55 billion. Revenue of the internet ticketing segment was INR 3.54 billion, up nearly 6% on year. Tourism segment's revenue was INR 2.24 billion, up 16% on year. Revenue of the company's rail neer segment was INR 963.56 million, up 15% on year.
For the nine months ended December, the company reported a bottom line of INR 9.57 billion, up nearly 16% on year. Revenue for the period was INR 34.06 billion, up almost 10% on year.
IRCTC reported its financial results for the December quarter after market hours. On Tuesday, shares of the company ended at INR 750.95 on the National Stock Exchange, down 2.9%. End
Edited by Ashish Shirke
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