IRCTC Q1 Net Profit Jumps 32.5%, Revenue Up 12.5%

14 Aug 2024 , 09:44 AM

Indian Railway Catering and Tourism Corporation (IRCTC) today reported a 32.5% increase in net profit for the quarter ended June to ₹307.72 crore from ₹232.21 crore in the same period last year, driven primarily by increased revenue. Sequentially, the net profit saw an 8.3% growth from ₹284.18 crore in the preceding quarter.

The state-owned company’s total revenue grew 12.5% to ₹1,171.57 crore from ₹1,041 crore in the year-ago quarter. However, sequentially, revenue declined by 11.3% from ₹1,187.41 crore.

Revenue from the catering business grew 17.1% year-on-year to ₹558.89 crore, while revenue from the high-margin ticketing business increased 13.4% year-on-year to ₹329.07 crore.

Shares of the company closed down 0.6% at ₹918.45 on the National Stock Exchange.