IRCTC Q2 Result: Profit jumps 386% to Rs 158.6 crore, revenue up 357% to Rs 405 crore
Revenue from operations for the second quarter showed robust growth of 357 percent to Rs 405 crore as compared to Rs 88.5 crore reported last year.
November 01, 2021 / 04:40 PM IST
Indian Railway Catering & Tourism Corporation (IRCTC) declared its September quarter numbers (Q2FY22) on November 1.
The company reported a massive 386 percent surge in its profit after tax (PAT) to Rs 158.5 crore as compared to Rs 32.6 crore reported in the same period last year. Profit in the first quarter of this financial year stood at Rs 82.5 crore.
Revenue from operations for the second quarter showed robust growth of 357 percent to Rs 405 crore as compared to Rs 88.5 crore reported last year. The company had reported revenue of Rs 243 crore in the previous quarter.
The revenue growth was witnessed across its business segments of Ticketing, Catering, and others.
Sales from internet ticketing witnessed a robust year-on-year (YoY) growth of 355 percent to Rs 265.3 crore from Rs 58.3 crore reported last year. The easing of COVID restrictions and rapid vaccination across the country resulted in improved mobility across states. The company’s ticketing business was the biggest beneficiary as passenger travel gained momentum.
Catering was the second largest contributor to the company’s revenues. Its sales rose 315 percent on an annualised basis to Rs 71.4 crore from Rs 17.2 crore reported last year. The revenues of this segment improved as the restrictions for serving food at platforms and trains were eased off by the government.
The revenues from its drinking water brand ‘Rail Neer” also grew by 345 percent YoY to Rs 41.6 crore compared to Rs 9.2 crore logged in the previous year.
The easing of restrictions on inter-state travel helped the company’s tourism business to clock revenue of Rs 27.1 crore as against Rs 3.9 crore reported in the same period of last year.
The company reported an EBITDA of Rs 227.7 crore and EBITDA margins of 54% in this quarter. The net margins for the company stood at 37.7 percent.
The stock closed at Rs 855.45 today, up Rs 9.75 (1.15%) from its previous day's close. It has gained 225 percent in the last one year and 197 percent this financial year. The stock has moved up 83 percent in the past three months and by 12 percent in last one month.