Indian Railway Catering and Tourism Corporation (IRCTC) rose 1.63% to Rs 1,424 after the company reported a 79.4% jump in net profit to Rs 150.61 crore on a 17.9% rise in net sales to Rs 586.89 crore in Q4 March 2020 over Q4 March 2019.
The result was announced after market hours on Friday, 10 July 2020.
IRCTC said that spread of COVID-19 pandemic temporarily disrupted operations of the company. The manufacturing facilities and other services were inoperative from 23 March to 31 March.
Meanwhile, the company has announced a final dividend of Rs 2.5 per equity share.
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.
As of 31 March 2020, the Government of India held 87.40% stake in the company.
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