IRCTC Q2 FY24 results: Net profit rises to Rs 295 crore, interim dividend of Rs 2.50 declared

Indian Railway Catering and Transportation Corporation (IRCTC) on Tuesday reported a net profit of Rs 295 crore for the quarter ended September 2023 as against a net profit of Rs 226 crore in the September quarter of FY23.
The company's revenue from operations in the September quarter rose 23 per cent on-year to Rs 995 crore, compared to Rs 806 crore in the same period a year ago.

IRCTC's EBITDA or earnings before interest, taxes, depreciation and amortisation rose 20 per cent on-year to Rs 366.5 crore from Rs 304.9 crore in the same quarter a year ago. The EBITDA margin stood at 36.8 per cent as against 37.8 per cent in the September quarter of last fiscal.

The comoany noted that the decline in EBITDA margin was due to higher contribution of other segments such as catering, state teertha and tourism, which are low-margin segments in comparison with internet ticketing.

The contribution of internet ticketing to overall revenue decreased to 32.8 per cent from 37.1 per cent in September Q2 FY23.

The platform company declared an interim dividend of Rs 2.50 per equity share for the financial year 2023-24, which represents 125 per cent of the paid-up share capital amounting to Rs 160 crore.

The board fixed November 17, 2023, as the Record Date for the purpose of payment of Interim Dividend of the FY 2023-24.

Shares of IRCTC Ltd closed at Rs 680.85, up by 1.41 per cent, on Tuesday.