IRCTC’s net profit climbs 2 pc to Rs 284 crore, dividend announced

New Delhi [India], May 29 (ANI): Indian Railway Catering and Tourism Corporation Ltd (IRCTC) declared a net profit of Rs 284 crore for the fourth quarter of 2024.

The revenue from the operations of the company rose to Rs 1155 crore, an increase of 17 per cent in the March quarter compared to Rs 965 crore in the same period of last year.

The board of directors has recommended the final dividend of 4 per share on the face value of 2 per share for the financial year 2023-24, subject to the approval of the shareholders in the Annual General Meeting (AGM).

The recommended final dividend is in addition to the interim dividend of X 2.50 per share (face value of X 2/-per share) declared in the month of November 2023. This makes the total dividend for the financial year 2023-24 to 6.50 per share on the face value of 2 per share, the filing showed.

The state-run railway entity’s EBITDA (Earnings before interest, tax, depreciation and amortization) saw an increase of 11.6 per cent to Rs 362.4 crore, compared to Rs 324.6 crore in the same quarter of last year.

The filing showed that the overall contribution of internet ticketing has declined to 31 per cent from 32 per cent last year and 37 per cent in financial year 2023.

The catering business grew 34.1 per cent to Rs 530.8 crore.

The revenue of the packaged drinking water, Rail Neer, sold by the company grew by 13.1 per cent to Rs 83 crore and in its tourism unit by 11.6 per cent to Rs 154.6 crore.

The stake of the government in the PSU stands at 62.4 per cent as of the second quarter of financial year 2024.

According to the Bombay Stock Exchange, IRCTC’s market capitalisation stands at Rs 87,152 crore.