IRCTC shares zoom 9% ahead of Q4 earnings

Shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC) rose 9 per cent in early trade ahead of the state-owned firm's earnings set to be announced today.

The large cap stock touched an intraday high of Rs 712.6, climbing 9.23 per cent against the previous close of Rs 652.40 on BSE. The stock hit 52-week high of Rs 1,278.60 on October 19,2021 and a 52-week low of Rs 377.4 on June 1, 2021.

Stock of IRCTC has gained 9.01 per cent in two sessions. IRCTC share is trading higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

Share Market Live: Sensex zooms 900 points, Nifty crosses 16,600; Infy, M&M top gainers

The stock has lost 16.43 per cent since the beginning of this year and risen 83.35 per cent in one year.

Market cap of the firm rose to Rs 55,672 crore. Total 2.07 lakh shares amounting to turnover of Rs 14.30 crore changed hands on BSE.

The firm reported a 168 per cent rise in net profit at Rs 209 crore for the quarter ended December 31, 2021. The catering and tourism arm of Indian Railways reported a net profit of Rs 78 crore in the year-ago period, mostly due to Covid-19 woes.

Stocks in news: LIC, Nykaa, IRCTC, Adani Enterprises and more

Revenue from operations zoomed 141 per cent to Rs 540 crore for the December quarter as against Rs 224 crore in the corresponding quarter of last fiscal.

The firm also declared an interim dividend of Rs 2 per share for FY22 and fixed February 18 as the date for payment.

IRCTC's revenues from the internet ticketing business climbed 118 per cent to Rs 312 crore in the December quarter. This is more than double as compared to Rs 143 crore in the year-ago period.

Segment-wise, IRCTC's revenue from catering services increased 117 per cent to Rs 104 crore during the December quarter of FY22 as compared to Rs 48 crore in the corresponding quarter of last year.