IRCTC Q1 results: Net profit drops 5% to Rs 232 crore, misses Street estimates

State-run Indian Railway Catering and Tourism Corp (IRCTC) on Wednesday reported a net profit of Rs 232.2 crore for the April-June period, marking a fall of 5.4 per cent compared with the corresponding period a year ago and missing analysts' estimates.

Its revenue grew to Rs 1,001.8 crore for the first quarter of the current financial year from Rs 852.6 crore a year ago, according to a regulatory filing. 

According to Zee Business research, IRCTC was estimated to report a quarterly net profit of Rs 275.4 crore and revenue of Rs 1,025 crore for the quarter ended June 30.

IRCTC shares ended 0.9 per cent higher at Rs 648.8 apiece on BSE ahead of the earnings announcement. 

The Indian Railway Catering and Tourism Corp stock finished the June quarter 10.9 per cent stronger, in line with a 10.5 per cent rise in the benchmark Nifty index. 

IRCTC is the only firm authorised by the Indian Railways to offer online railway ticket-booking services and provide food services onboard trains.

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