IRCTC Revenue Surged By 17%, Dividend Announced

Indian Railway Catering and Tourism Corporation Ltd (IRCTC) reported a net profit of Rs 284 crore for the fourth quarter of 2024. The company’s revenue from operations increased by 17 percent, reaching Rs 1,155 crore in the March quarter, compared to Rs 965 crore in the same period last year.

The board of directors has proposed a final dividend of Rs 4 per share on the face value of Rs 2 per share for the financial year 2023-24, pending shareholder approval at the Annual General Meeting (AGM). This proposed final dividend is in addition to an interim dividend of Rs 2.50 per share (face value of Rs 2 per share) declared in November 2023. This brings the total dividend for the financial year 2023-24 to Rs 6.50 per share.

The state-owned railway company’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) increased by 11.6 percent, rising to Rs 362.4 crore from Rs 324.6 crore in the same quarter last year.

The filing indicated a decline in the contribution of internet ticketing, dropping to 31 percent from 32 percent last year and 37 percent in the financial year 2023. Meanwhile, the catering business saw a significant growth of 34.1 percent, reaching Rs 530.8 crore. Revenue from the sale of packaged drinking water, Rail Neer, grew by 13.1 percent to Rs 83 crore, and the tourism unit’s revenue increased by 11.6 percent to Rs 154.6 crore.

As of the second quarter of the financial year 2024, the government holds a 62.4 percent stake in the PSU. According to the Bombay Stock Exchange, IRCTC’s market capitalization stands at Rs 87,152 crore.