Shares of Indian Railway Catering and Tourism Corporation (IRCTC) are expected to grab market attention following the announcement of its Q2 FY25 results. The company reported a four percent increase in consolidated profit to Rs 308 crore for the quarter ending September 2024, compared to Rs 295 crore in the same period last year. Income from operations also grew seven percent year-on-year (YoY), standing at Rs 1,064 crore, from Rs 992 crore.
The IRCTC board has approved an interim dividend of Rs 4 per share (face value Rs 2), with November 14 set as the record date for determining eligible shareholders.
Despite the rise in revenue and profit, IRCTC’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a slight increase, rising to Rs 373 crore from Rs 367 crore in the same quarter last year. EBITDA margin fell slightly to 35.05 percent.
On a quarter-on-quarter (QoQ) basis, net profit remained flat at Rs 308 crore, while revenue was down 5 percent from the previous June quarter.
Breaking down the revenue for the quarter by segment, IRCTC’s catering division saw a robust increase of 12 percent, making Rs 482 crore against Rs 432 crore last year. The online ticketing segment posted strong gains, reporting Rs 371 crore, up from Rs 327 crore last year. The tourism division also showed growth, with revenue rising to Rs 90 crore from Rs 78 crore in Q2 FY24.
IRCTC’s Rail Connect app, a popular choice for rail tickets, has played a key role in maintaining ticketing revenue as it continues to be the primary booking platform. Looking ahead, the company is working to integrate its services with the upcoming Indian Railways’ super app, which is expected to simplify ticketing and other rail services.
Ahead of the results, IRCTC shares fell 2 percent on Monday, closing at Rs 815 on the NSE.
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