 "IRCTC Q4 results: Stock slips 2% ahead of nos; up 19% in last three months")
IRCTC in focus: Shares of Indian Railway Catering and Tourism Corporation fell as much as 1.94 per cent to hit an intraday low of Rs 1,078.90 per share, on Tuesday, ahead of its March quarter of financial year 2024 (Q4FY24) results.
Q3FY24 results
In the third quarter of FY24 (Q3FY24), the Indian Railway Catering and Tourism Corporation (IRCTC) witnessed strong growth in various financial metrics. Net profit surged 17.4 per cent to Rs 299.9 crore in Q3FY24, compared to Rs 255.52 crore in the same quarter of FY23 (Q3FY23). Revenue from operations increased 21.8 per cent to Rs 1,118.3 crore, compared to Rs 918.06 crore in Q3FY23.
Profit before exceptional items and tax stood at Rs 420.9 crore, marking a robust growth of 23.3 per cent from Rs 341.3 crore in the corresponding quarter last year. Exceptional items amounted to Rs 14.5 crore in Q3FY24.
New Delhi-based Indian Railway Catering and Tourism Corporation (IRCTC) is a subsidiary of the Indian Railways, responsible for managing catering, tourism, and online ticketing services. It facilitates convenient online booking of train tickets, enabling users to check schedules, ticket availability, and plan their journeys.
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Through its website and mobile applications, IRCTC introduced internet-based ticket booking, utilising GPRS or SMS services for mobile users.
Apart from electronic tickets (e-tickets), IRCTC also provides I-tickets, which resemble traditional tickets but are booked online and delivered via post. Additionally, IRCTC offers access to the Passenger Name Record (PNR) status, allowing passengers to track the status of their bookings.
Stock performance
In the past three months, the stock has surged 19 per cent. It rose 5 per cent in the last month.
Notably, its 52-week high stands at Rs 1,148.30 per share, while its lowest point during the same period was Rs 614.45 per share.
The market capitalisation of IRCTC, as per the Bombay Stock Exchange, currently stands at Rs 87,152 crore.
At 9:59 AM, IRCTC shares were trading 0.74 per cent lower at Rs 1,092.15 per share. By comparison, S&P BSE Sensex was trading 0.08 per cent higher at 75,452.97 levels.