IRCTC extends record run; soars 462% over IPO price

IRCTC on Wednesday jumped 9.68% to hit a record high of Rs 1798.

The stock spurted 75.98% in last one month compared with a 3.68% fall in benchmark Nifty 50 index.

IRCTC surged 461.88% over the initial public offer (IPO) price of Rs 320 per share. The stock was listed the stock exchanges on 14 October 2019 at Rs 644, a premium of 101.25% to the IPO price. The benchmark Nifty 50 has risen 7% since 14 October 2019.

On a standalone basis, IRCTC's net profit jumped 179.6% to Rs 205.80 crore in Q3 December 2019 as against net profit of Rs 73.60 crore in Q3 December 2018. Net sales rose 64.6% to Rs 715.98 crore in Q3 December 2019 from Rs 435.01 crore posted in Q3 December 2018. The result was announced on 12 February 2020.

Revenue from internet ticketing segment surged 310.16% YoY to Rs 226.90 crore in Q3 December 2019. Revenue from catering segment rose 8.23% to Rs 269.20 crore during the period under review. Revenue from state teertha business segment spurted 862.32% to Rs 66.40 crore in Q3 December 2019 over Q3 December 2018. Tourism business revenue rose 14.63% to Rs 94.86 crore during the stated period. Rail neer business segment revenue rose 41.89% YoY to 58.60 crore in Q3 December 2019.

IRCTC in an exchange filing said it has started Kashi Mahakal Express after successfully running two Tejas Express trains. Kashi Mahakal Express will run between Varnasi and Indore and connect three holy places - Jyotirlinga - Omkareshwar (near Indore in Madhya Pradesh), Mahakaleshwar (Ujjain in Madhya Pradesh) and Kashi Vishwanath (Varanasi in Uttar Pradesh). The train will commercially run from 20 February 2020.

Meanwhile, the company has declared an interim dividend of Rs 10 per equity share and set a record date at 25 February 2020.

IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. IRCTC operates in four business segments, namely, internet ticketing, catering, packaged drinking water and travel & tourism. The Government of India holds 87.40% stake in the company as on 31 December 2019.

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