Railway Stock Slumps Back In Red After Q3-Print

IRCTC‘s share price slumped back in red on Wednesday morning after the company posted its results for the December quarter.

What Happened: The railway company reported a net profit of ₹300 crore for the December quarter of FY24, marking a growth of 17.4% from ₹255.5 crore in the corresponding period of the previous year.

The company also reported an increase in revenue, which rose by 21.8% year-on-year to reach ₹1,118.3 crore. Both the top line and bottom line were in line with street estimates.

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EBITDA for the quarter stood at ₹394 crore, registering a 20.9% YoY jump. The EBITDA margin moderated to 35.2%, compared to 35.5% posted in the same quarter last year.

Catering remained the company’s biggest revenue segment contributing around ₹507.76 crore. The second biggest segment was internet ticketing which contributed around ₹335.31 crore to the overall revenue.

Price Action: IRCTC’s share price was down 1.18% to trade at ₹899.75 as the markets opened on Monday.

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