IRCTC‘s share price was volatile on Wednesday morning after making gains for four straight sessions.
What Happened: The company posted its earnings for the quarter ended September in the fatre market hours of Tuesday. IRCTC, the catering arm of the Indian Railways, recorded a 30% increase in standalone net profit at ₹295 crore, compared to ₹226 crore in the corresponding quarter of the previous year. The company’s revenue from operations during the same quarter surged to ₹995 crore, up 23% from ₹806 crore in the year-ago period. Both the profit and revenue beat most street estimates.
EBITDA for the quarter grew by 20% year-on-year to ₹366.5 crore, up from ₹304.9 crore in the same quarter of the previous year. The EBITDA margin for the quarter was reported at 36.8%. Earnings per share for the quarter was at ₹3.68.
The railway company also declared an interim dividend of ₹2.50 per share for the financial year 2023-24. The record date for the payment of this interim dividend has been set for November 17, 2023.
Price Action: IRCTC’s share price was up % to trade at ₹6 as the markets opened on Wednesday.
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