IRCTC on fast track in Q4; net profit zooms 254 per cent YoY

Incorporated in 1999, IRCTC is an extended arm of the Indian Railways to upgrade & manage the catering and hospitality services at stations, on trains along with other locations to promote domestic and international tourism through the development of budget hotels, special tour packages as well as global reservation systems.

Indian Railway Catering & Tourism Corporation (IRCTC), a central public sector enterprise under the Ministry of Railways, Government of India announced its financial results.     

The company informed that it has recorded net sales and other operating income of Rs 690.96 crore thereby, surging 103.95 per cent from Rs 338.79 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 304.37 crore in Q4FY22 as compared to an operating profit of Rs 164.55 crore in Q4FY21. Q4FY22 registered a net profit of Rs 213.78 crore in comparison with the net profit of Rs 103.78 crore in the same quarter of the previous year, soaring 105.99 per cent.           

Considering the yearly performance, the operating profit of IRCTC was recorded at Rs 953.56 crore in Q4FY22 as compared to an operating profit of Rs 272.74 crore in Q4FY21. The net profit soared 254.86 per cent to Rs 663.69 crore as against Rs 187.03 crore during the previous year, ending March 2021. On the other hand, net sales jumped 142 per cent to Rs 1,879.48 crore as against Rs 776.66 crore during the previous year, ending March 2021.        

The company also announced a dividend of Rs 1.50 per equity share of the face value of Rs 2 each for the financial year 2021-2022, subject to the approval of shareholders in the upcoming annual general meeting (AGM). This final dividend is in addition to the interim dividend of Rs 2 per share.  

Considering its commendable growth and bright future outlook, we suggest keeping a close eye on this scrip for the upcoming sessions.