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IRCTC jumps 10% after Q3 PAT spurts 180% to Rs 206 cr

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Indian Railway Catering & Tourism Corporation (IRCTC) jumped 9.7% to Rs 1556.60 after state-owned company announced stellar Q3 numbers after market hours yesterday, 12 February 2020.

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.

Profit before tax (PBT) for Q3 December 2019 stood at Rs 270.42 crore, rising by 140.5% from Rs 112.42 crore reported in Q3 December 2018. Tax expense jumped 61.6% year-on-year (YoY) to Rs 66.05 crore in Q3 December 2019.

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.

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

IRCTC has advanced 386.44% since its listing on bourses on 14 October 2019 at Rs 320 per share. The benchmark Nifty 50 has gained 7.4% in the same period.

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 30 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 13 2020. 09:35 IST