IRCTC Reports 30% YoY Growth and Recommends Final Dividend for FY 2022-23

IRCTC, the tourism and ticketing arm of Indian Railways, has reported 30 percent YoY growth. In the fourth quarter ended March, IRCTC reported a 30 percent increase in net profit to Rs 279 crore. The company posted a net profit of Rs 214 crore in the same period last year.

The company’s board has also recommended a final dividend of Rs 2 for each equity share of face value Rs 2 for the financial year 2022-23. This final dividend is in addition to the interim dividend of Rs 3.50 announced by the board in February. The company’s revenue stood at Rs 279 crore, up 9 percent from Rs 256 crore in the previous quarter ended December.

Meanwhile, IRCTC’s income from various activities rose 40 percent to Rs 965 crore in the March quarter. It was Rs 691 crore in the same quarter last year. Revenue from miscellaneous activities rose 5 percent in the fourth quarter from Rs 918 crore in the third quarter. Revenue from the catering segment rose 49 percent year-on-year to Rs 396 crore in the fourth quarter. It was Rs 266 crore in the March quarter last year.

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Revenue from the rail neer (nominal effective exchange rate (NEER)) segment rose 33 percent to Rs 73 crore in the quarter from Rs 55 crore last year. Revenue from internet ticketing business rose to Rs 295 crore in January-March period. Last year it was Rs 293 crore. Revenue from the tourism sector more than doubled in the fourth quarter. It reached Rs 138 crore. Last year it was Rs 54 crore. IRCTC’s total expenses rose 53 percent to Rs 655 crore in the quarter. It was Rs 429 crore in the previous year.

IRCTC recorded a 52 percent growth in net profit this financial year. 1,006 crores. Income from various activities rose 88 percent to Rs 3,541 crore in FY23. On Monday, IRCTC shares rose 3.55 percent to close at Rs 646 on the NSE.