Indian Railway Catering and Tourism Corporation gained 1.23% to Rs 856.05 after the company posted a 386% jump in net profit to Rs 158.57 crore on a 357% increase in revenue from operations to Rs 40,493.72 crore in Q2 FY22 over Q2 FY21.
On a sequential basis, the PSU company's net profit increased 92.15% on a 66.3% rise in revenue from operations to Rs 40,493.12 crore in Q2 FY22 over Q1 FY22. Profit before tax jumped 92.3% quarter on quarter basis and 357% on year-on-year basis to Rs 213.68 crore in Q2 FY22.Internet ticketing business revenue soared 77% on quarter-on-quarter basis to Rs 265.30 crore and revenue from Rail Neer segment surged 40.6% quarter on quarter to Rs 41.16 crore. The company's revenue from catering segment jumped nearly 26% on quarter-on-quarter basis to Rs 71.39 crore.
Tourism segment saw revival as revenue from the business jumped 265% to Rs 27.06 crore in Q2FY22 over Q1 FY22.
Meanwhile, the company's board declared an interim dividend of Rs 0.77 per equity share.
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. The Government of India held 67.4% stake in the company.
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