Railway Stock Slumps Back In Red After Q3-Print
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

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.

See Also: How To Check Entero Healthcare Solutions IPO Allotment Status

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.

Read Next: Railway Stocks Continue To Bleed, But Analyst Suggests Holding These 2 Stocks

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EarningsEquitiesNewsMarketsMoversTrading IdeasIRCTC