IRCTC's net profit rose 14.01% to Rs 172.15 crore on 3.77% rise in net sales to Rs 972.61 crore in H1FY2020 over H1FY2019.
IRCTC (Indian Railway Catering and Tourism Corporation) released Q2 earnings after market hours yesterday, 13 November 2019. The company benefited from a favourable tax regime of 25.17% as on 30 September 2019 over a tax rate of 34.94% as on 31 March 2019. This resulted in reversal of deferred tax assets during the year.
Meanwhile, S&P BSE Sensex was up 143.91 points or 0.36% at 40,259.97.
Shares of IRCTC lost 0.63% to Rs 925.90. The stock was trading in the range of Rs 913.20 to Rs 946.50 so far during the day.
Shares of IRCTC listed on the bourses on 14 October 2019. The stock debuted at Rs 644, a premium of 101.25% to the initial public offer (IPO) price of Rs 320.
IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. IRCTC operates in four business segments, namely, internet ticketing, catering, packaged drinking water and travel & tourism.
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The Government of India holds 87.40% stake in the company as on 30 September 2019.
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