IRCTC Q1 results: Indian Railway Catering and Tourism Corporation (IRCTC) announced a 32.51 per cent rise in net profit to ₹307.71 crore in the April to June quarter of the financial year 2024-25, compared to ₹232.21 crore in the same quarter of the previous year.
The public sector company, which offers ticketing, catering and tourism services, said in an exchange filing that its revenue from operations rose 11.81 per cent to ₹1,120.15 crore for the April to June quarter of the financial year 2024-25, compared to ₹1,001.78 crore in the same quarter of the previous year.
The company’s rising catering segment revenues fuelled net profit for the June quarter. The catering segment revenues increased 17.14 per cent to ₹558.88 crore, compared to ₹477.07 in the same period the previous year. The segment was the biggest contributor to the rise in the net profit compared to other segments like Rail neer, internet ticketing and tourism, according to a company statement.
IRCTC shares closed 0.65 per cent lower at ₹918.30 after Tuesday’s trading session, compared to ₹924.35 in the previous market close. The company announced its April to June quarter results close to Tuesday’s market closing hours.
The PSU railway operator’s tourism segment took a hit as the revenues fell 12.35 per cent to ₹124.87 crore in the April to June quarter, compared to ₹142.48 crore in the same period last year.
“IRCTC may also benefit from fresh projects as they are expected to add around 800 km of fresh tracks to the Indian railway network. IRCTC is in the railway ticketing, hospitality, catering, and private train operation business. But the benefit would trickle in the long term,” Avinash Gorakshkar of Profitmart Securities told Mint earlier, referring to the Cabinet Committee on Economic Affairs approval of eight railway projects on August 9.
IRCTC is the only entity authorised by the government to provide online tickets, catering services to railways, and packaged drinking water at railway stations and trains in the country.