IRCTC spurts after Q3 PAT zooms 167% YoY

Indian Railway Catering and Tourism Corporation gained 2.11% to Rs 855.75 after the company posted a 167% jump in net profit to Rs 208.8 crore on a 140.8% increase in revenue from operations to Rs 540.21 crore in Q3 FY22 over Q3 FY21.

The PSU company witnessed sharp rise in net profit owing to a low base in the year-ago period and contribution from all the segments.

On a sequential basis, the PSU company's net profit increased 31.7% on a 33.4% rise in revenue from operations in Q3 FY22 over Q2 FY22. Profit before tax jumped 31.75% quarter on quarter basis and 169.7% on year-on-year basis to Rs 281.54 crore in Q3 FY22.

Internet ticketing business revenue grew 17.9% on quarter-on-quarter basis to Rs 265.30 crore and revenue from Rail Neer segment surged 21.3% quarter on quarter to Rs 49.94 crore. The company's revenue from catering segment jumped nearly 46.58% on quarter-on-quarter basis to Rs 104.66 crore.

Tourism segment saw revival as revenue from the business jumped 152.7% to Rs 68.25 crore in Q3 FY22 over Q2 FY22.

The company also declared an interim dividend of Rs 2 per share for the financial year 2021-22. It has fixed February 18 as the record date for the purpose of payment of interim dividend.

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. The Government of India held 67.4% stake in the company.

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