On Tuesday, 8 February 2022, IRCTC (Indian Railway Catering and Tourism Corporation) reported a whopping growth in its 3rd quarter income with consolidated net profit increasing 32% sequentially and 167.4% on-year on account of a low base during Q3 FY 2022. Go through this blog to get the intricate details!
Know About IRCTC’s Revenue!
Revenue of IRCTC from its operations amounted to Rs. 540.21 crores, marking a rise of 141% from Rs. 224.37 crores during the same time of FY 21. The Q3 FY 22 profit of Rs. 208.81 crores is much higher than Rs. 78.08 crores from Q3 FY 21 and Rs. 158.57 crores from Q2 FY 22.
The internet ticketing sector contributed 58% of the total revenue of IRCTC during quarter 3 ended in December. The segment’s revenue stood at Rs. 312.86 crores, increasing twice from Rs. 143 crores during Q3 2020.
Catering, the 2nd largest sector with respect to business income, increased more than twice from Rs. 48.95 crores in Q3 FY 21 to Rs. 104.65 crores in Q3 FY 22. Besides, EBTIDA amounted to Rs. 279.17 crores in the 3rd quarter of the current financial year, establishing a jump of 195% from Rs. 94.65 crores in the preceding year’s Q3. EBITDA stands for earnings before interest tax, depreciation and amortisation.
Get an Insight into the Business of IRCTC
IRCTC is a central public sector undertaking of the Ministry of Railways, represented as Mini Ratna (Category-I). The incorporation year of the company is 27 September 1999. It is an extended segment of the railways that manages, professionalises and upgrades the hospitality and catering services on trains, stations and other localities.
Additionally, it promotes international and domestic tourism through expansion of global reservation systems, information & commercial publicity, affordable tour packages and budget hotels.
The outbreak of the COVID-19 pandemic has been responsible for the slowdown of the Indian economy. Amidst this disturbance, IRCTC has been successful in maintaining a gradual growth in profits. With the lifting of the Central and State Governments’ restrictions, the margins will rise.
Frequently Asked Questions
1. What is IRCTC’s interim dividend for FY 2021-22?
Interim dividend of IRCTC during FY 2021-22 is Rs. 21 per share. The Board of Directors has kept 18 February 2022 as the record day for its payment purpose.
2. What is IRCTC’s stock price on BSE?
IRCTC’s stock price on Bombay Stock Exchange is Rs. 838.10. Its market capitalization is worth Rs. 67,048 crores.
3. Where is the corporate office of IRCTC?
The corporate office of IRCTC is located in New Delhi. Internet ticketing office and tourism office is also situated in the same city.
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