IRCTC spurts after turnaround Q1 numbers; board OKs stock split

Indian Railway Catering and Tourism Corporation (IRCTC) jumped 3.97% to Rs 2673.70 after the company posted a net profit of Rs 82.52 crore in Q1 FY22 compared with net loss of Rs 24.6 crore in Q1 FY21.

IRCTC's revenue from operation jumped 85.3% year-on-year to Rs 243.36 in Q1 FY22 over Q1 FY21. The company's profit before tax stood at Rs 111.07 crore in Q1 FY22 as compared to a pre tax loss of Rs 29.38 crore posted in Q1 FY21.

Internet ticketing business revenue soared 325% to Rs 149.97 crore, revenue from Rail Neer segment surged 800% to Rs 29.26 crore, and revenue from tourism business jumped 151% to Rs 7.41 crore in Q1 FY22 over Q1 FY21. The company's revenue from catering segment slumped nearly 37% to Rs 56.71 crore.

Meanwhile the company's board has recommended the proposal for sub-division of company's one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each, subject to the approval of Ministry of Railways, shareholders and other approvals asmay be required.

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. As of 30 June 2021, the Government of India held 67.4% stake in the company.

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