IRCTC rallies 12 per cent after Q3 earnings nearly triple

The shares of Indian Railway Catering and Tourism Corporation (IRCTC) jumped by 12 per cent in the early trading session on Thursday after the company reported a stellar performance for the quarter ended December 2019. This is the second earnings announcement by the company after its listing on Indian bourses since October 2019.

The company's revenue from operations in the third quarter ended December 2019, increased by 64.59 per cent on a YoY basis to Rs 715.98 crore. Profit before tax saw a growth of 140.57 per cent in Q3FY20 to Rs 270.42 crore from Rs 112.41 crore in Q3FY19. For Q3FY20, the net profit was reported at Rs 205.8 crore, growing by 179.66 per cent on a YoY basis. The figure stood at Rs 73.59 crore in the corresponding quarter for the previous fiscal year.

The company's board has also declared an interim dividend of Rs 10 per share, which is 100 per cent of the paid-up share capital. February 25, 2020, is set as the record date for the purpose of payment of the dividend.

IRCTC is engaged in offering internet ticketing, catering and tourism. The company offers catering and hospitality services at stations, on trains and other locations. Its segments include catering and hospitality, internet ticketing, travel and tourism and packaged drinking water (Rail Neer). The company has over six ‘Rail Neer' plants located at Delhi, Patna (Bihar), Palur (Tamil Nadu), Ambernath (Maharashtra), Amethi (Uttar Pradesh) and Parassala (Kerala).

At 11.45 am on Thursday, the stock was trading at Rs 1,577.55, up by 11.18 per cent or Rs 158.60 per share. The 52-week high is recorded at Rs 1,609.30 and the 52-week low is Rs 625 on BSE.