IRCTC Q2 Results: Profit Rises 11%; Interim Dividend Announced
IRCTC's consolidated net profit rose 11% to Rs 342 crore in the July-September quarter.
Indian Railway Catering and Tourism Corp. reported double-digit growth in profit during the second quarter of the current financial year.
Consolidated net profit rose 11% to Rs 342 crore in the July-September quarter, compared to Rs 308 crore in the corresponding period last fiscal, according to results announced on Wednesday. The company had an exceptional gain of Rs 5.8 crore in Q2.
Revenue from operations jumped nearly 8% to Rs 1,146 crore from Rs 1,064 crore.
Operational performance improved, with earnings before interest, tax, depreciation and amortisation rising 8% to Rs 404 crore.
This led to a margin expansion by 30 basis points to 35.3%, the second consecutive quarter of growth. One basis point is one-hundredth of a percentage.
Income from catering rose nearly 8% to Rs 520 crore. Online ticketing and tourism segments rose 4% and 21%, respectively.
IRCTC Dividend
The IRCTC board declared an interim dividend of Rs 5 per share. The record date has been fixed as Nov. 21 for the purpose of determining the eligibility of shareholders.
The share price settled 0.7% higher at Rs 715.5 apiece on the BSE, ahead of the results, compared to a0.7% advance in the benchmark Sensex. The stock has fallen 9% so far this year.
