- By Priyanka Payal
- Wed, 09 Aug 2023 01:22 PM (IST)
- Source:JND
The share price of State-owned Indian Railway Catering and Tourism Corp (IRCTC) traded in the green on Wednesday (August 9) as investors keenly awaited the update on the company’s Q1 results schedules today. At 12:41 pm IST today, IRCTC shares were up 1.23% at Rs 650.50 per share.
In the last one year, the returns from the stock have fallen 3.36%, while the stock’s year-to-date (YTD) performance is up 1.27%.
The company which is also a provider of food services onboard trains, is likely to witness sound growth in earnings for the April-June of FY24, as per analysts.
IRCTC can likely post nearly 6% growth in net profit and a 9.3% on year-on-year (YoY) growth in its Q1FY24 results.
A look at IRCT’s performance in the March quarter:
IRCTC’s net profit grew 30.4% at Rs 278.8 crore in the fourth quarter of FY23, compared to a profit of Rs 214 crore in the same quarter a year ago. IRCTC also reported double-digit growth across key parameters on a YoY basis and also recommended a dividend of 100% for its shareholders.
The company’s revenue from operations rose 39.7% to Rs 965 crore in Q4FY23, as compared to Rs 691 crore in Q4 of the previous fiscal.
IRCTC is at the forefront of the industry. With a staggering presence in over 474 trains equipped with pantry cars and 713 trains under Train side vending (TSV), as on March 31, 2023,
As of March 31, 2023, the company managed 57 Jan Ahaars, 182 Refreshment Rooms, 11 Base Kitchens, and 315 Food Plaza / Fast Food units.
According to an exchange filing dated July 28, the company has fixed August 18, 2023, as the “Record Date” for the purpose of determining the member's entitlement to receive the final dividend for the financial year 2021-22.
IRCTC shares buck market trend as the Indian equity benchmark indices traded lower today. At 1:06 pm IST today, Sensex was down 0.39% at 65,586.79 points, while Nifty slipped 0.31% at 19,510.20 points.