Discover the latest financial performance of IRCTC as it posts a 30% increase in Q4 net profit. Get insights into the company’s revenue growth, dividend declaration, and future growth drivers. Read more on this report.
IRCTC, the tourism and ticketing arm of the Indian Railways, has announced its financial results for the quarter ended March 31, 2023. The company reported a significant 30.4% year-on-year rise in standalone net profit, reaching Rs 279 crore. This blog post will delve into the key highlights of IRCTC’s performance, including revenue growth, dividend declaration, and future growth prospects.
IRCTC’s Impressive Financial Performance
In the quarter under review, IRCTC witnessed a substantial increase in its revenue from operations, surging by 39.6% to Rs 965 crore compared to Rs 691 crore in the same quarter of the previous fiscal year. The company’s strong financial performance can be attributed to various factors, such as the revival of its businesses and strategic initiatives.
Segment-wise Revenue Growth
Among its various business segments, the revenue from the catering segment saw remarkable growth, rising by 49% year-on-year to Rs 396 crore from Rs 266 crore in the previous year’s March quarter. The Rail Neer segment also witnessed a 33% increase, reaching Rs 73 crore compared to Rs 55 crore in the corresponding period last year. Additionally, the internet ticketing business reported a slight growth from Rs 293 crore to Rs 295 crore.
IRCTC’s board has recommended a final dividend of Rs 2 per equity share with a face value of Rs 2 each for the financial year 2022-23. This move reflects the company’s commitment to rewarding its shareholders and signifies its positive outlook for the future.
Future Growth Drivers
According to the Research, IRCTC has showcased a strong revival in most of its businesses, evidenced by a 40% growth in topline during the final quarter and an impressive 88% growth for the entire fiscal year. While internet ticketing sustained the company during the pandemic, the revival in FY23 was primarily driven by the catering and tourism segments. Moving forward, non-ticketing businesses are expected to play a significant role in IRCTC’s growth trajectory.
IRCTC’s Q4 financial results highlight a commendable performance with a 30% rise in net profit and substantial revenue growth. The company’s successful revival in various sectors, such as catering and tourism, demonstrates its resilience and adaptability. With the announcement of a final dividend and the anticipation of non-ticketing businesses driving future growth, IRCTC is poised for a promising future. Stay updated with IRCTC’s progress and explore the potential investment opportunities presented by this dynamic company.