IRCTC LTD Q4FY23 PAT up 30.4% at Rs279 crore on higher operating profits from catering and Rail Neer

IRCTC LTD reported 39.7% growth in net sales revenues for the March 2023 quarter on consolidated basis at Rs965 crore. Revenues were up 5.12% on sequential basis. For the quarter, the company reported 50% growth in the catering revenues and a 40% growth in Rail Neer business, even as revenues from the ticketing vertical remained almost stagnant. There was a big boost to the tourism segment revenues in the quarter.

While the operating profits for the quarter were up 29.8% overall at Rs349 crore, the net profits grew 30.4% on yoy basis to Rs279 crore. The operating profits got a boost from sharply higher profits from catering, Rail Neer and Tourism, even as the operating profits from the ticketing business were marginally lower on a yoy basis. The company also booked exceptional gains in the quarter of Rs27 crore from writeback of earlier made provisions.

Financial highlights for Mar-23 compared yoy and sequentially

 IRCTC Ltd    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 965

₹ 691

39.66%

₹ 918

5.12%

Operating Profit (Rs cr)

₹ 349

₹ 269

29.78%

₹ 320

8.78%

Net Profit (Rs cr)

₹ 279

₹ 214

30.41%

₹ 256

9.11%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 3.48

₹ 2.67

 

₹ 3.19

 

OPM

36.12%

38.86%

 

34.90%

 

Net Margins

28.89%

30.94%

 

27.83%

 

 

The operating margins tapered yoy from 38.86% to 36.12% due to a sharp growth in the top line revenues on a yoy basis and weak profit growth contribution from the core ticketing business. Net margins also tapered to 28.9% compared to 30.9% in year ago period. The board has declared a final dividend of Rs2 per share taking the total dividend payout to Rs5.50 per share for FY23.

Related Blogs
blog-logo

Share Market

blog-logo

8 mins read . 19 Jul 2024

Stock Market Trading Time in India

  • 3 people read
blog-logo

Share Market

blog-logo

11 mins read . 19 Jul 2024

How To Trade in T2T Stocks

  • 3 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions