News

Published: May 29, 2024
Updated: May 29, 2024

IRCTC Q4 Results: Modest Net Profit Increase and Strong Revenue Growth Net Profit Growth in Q4 FY24

The Indian Railway Catering and Tourism Corporation (IRCTC) reported a 2% rise in its consolidated net profit for the January-March quarter of FY24, amounting to Rs 284 crore. This compares to a net profit of Rs 279 crore in the same period last year (Q4FY23). The marginal increase highlights the company's steady financial performance despite challenging conditions.

Significant Revenue Increase

IRCTC's revenue from operations surged by 19% to Rs 1,155.8 crore in Q4FY24, up from Rs 965 crore in the year-ago period. This significant growth reflects the company's robust operational efficiency and its ability to capture higher market demand in the e-ticketing and catering sectors.

Dividend Announcement

The IRCTC board has announced a final dividend of Rs 4 per share for FY24, pending approval at the upcoming Annual General Meeting (AGM). This is in addition to an interim dividend of Rs 2.50 per share declared in November 2023, bringing the total dividend for FY24 to Rs 6.50 per share on a face value of Rs 2 per share.

Market Performance and Valuation

As of May 28, 2024, IRCTC's market capitalization stood at Rs 87,152 crore on the BSE. The company's shares closed at Rs 1,082.70 per share, marking a 1.60% increase for the day.

Steady Growth and Investor Confidence

IRCTC's Q4 results demonstrate steady growth in net profit and a robust increase in revenue, reinforcing its strong market position. The declared dividends indicate the company's commitment to delivering value to its shareholders. With a solid market capitalization and rising share prices, IRCTC continues to be a reliable investment in the railway catering and tourism sector.