Indian Railway Catering and Tourism Corporation Ltd. (IRCTC), a Miniratna (Category-I) CPSE under the Ministry of Railways, published its Q2 Unaudited Financial Report (UFR) for September Quarter, Financial Year 2023-24. It generated a net profit of ₹294.67 crores in this Quarter witnessing a growth of 23.51% in its revenue.
More Details:
IRCTC, a Miniratna (Category-I) CPSE under Ministry of Railways held the Board of Directors meeting on 07th November, 2023.
IRCTC was conceived as an extended arm of the Indian Railways with the aim to upgrade, professionalise, and manage catering and hospitality services at stations, on trains, and other locations. Additionally, it has been instrumental in promoting both domestic and international tourism.
IRCTC, a 24 year old PSU held its Board of Directors meeting on 7th November, 2023, and also declared its Unaudited Financial Results for September Quarter, FY 2023-24.
IRCTC reported a net profit of ₹294.67 crores in September Quarter of FY 2023-24 marking an increase of 30.36% from ₹226.03 crores in Q2 of FY 2022-23. The net profit registered is the highest ever profit registered by IRCTC in the history of IRCTC for this Quarter.
During the Q2, 2023-24, IRCTC has registered a strong financial performance with an increase in total revenue of 23.51% which stood at ₹995.31 crores in the September Quarter of FY 2023-24 in comparison to ₹805.80 crores in Q2 of FY 2022-23. Both EBITDA and PAT ended up at healthy margins of 28.54% and 30.36% respectively.
The Board in their meeting held on 07th November 2023 has declared an Interim Dividend of ₹ 2.50 per equity share for a Face value of ₹ 2/- per share for the financial year 2023-24 which is 125% of the paid up share capital which stands at 160 crores.
IRCTC has always prioritised open communication and disclosure to our stakeholders. This UFR demonstrates our dedication to providing investors, clients, and partners with a clear understanding of our financial health and our strategic direction.
Brief Insights:
- IRCTC, a Miniratna (Category-I) CPSE under the Ministry of Railways, published its Q2 Unaudited Financial Report (UFR) for September Quarter FY 2023-24.
- In the September Quarter of FY 2023-24, IRCTC marked the highest-ever profit of ₹294.67 crores in this quarter.
- The company’s financial performance in Q2, 2023-24 was robust, with a 23.51% increase in total revenue.
- During the Board of Directors meeting the Board declared an interim dividend of ₹2.50 per equity share.
Source: IRCTC- Press Release | Image Credit (representational): Unsplash
