IRCTC Q3 PAT skids 62% to Rs 78 cr

Indian Railway Catering and Tourism Corporation (IRCTC)'s standalone net profit tanked 62.1% to Rs 78.09 crore on 68.7% fall in net sales to Rs 224.37 crore in Q3 December 2020 over Q3 December 2019.

Profit before tax (PBT) dropped 61.4% to Rs 104.39 crore in Q3 December 2020 as against Rs 270.42 crore in Q3 December 2019. Current tax expense for the quarter tumbled 59.8% to Rs 26.53 crore as against Rs 66.05 crore in Q3 December 2019. The Q3 result was declared post trading hours yesterday, 28 January 2021.

The revenue from catering segment slumped 81.81% to Rs 48.95 crore, revenue from internet ticketing segment declined 36.96% to Rs 143.02 crore, revenue from Rail Neer segment dropped 71.10% to 16.93 crore and revenue from tourism business slumped 83.70% to Rs 15.46 crore in Q3 December 2020 over Q3 December 2019.

Shares of IRCTC rose 0.11% at Rs 1,458.10. 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 67.40% stake in IRCTC as of 31 December 2020.

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