IRCTC Q4 Results: Net profit rises nearly 2%, falls short of analysts' expectations

IRCTC Q4 FY24 Results: Indian Railway Catering and Tourism Corporation (IRCTC), the only firm authorised by the Indian Railways to manage food services onboard trains and provide online railway ticket booking services, on Tuesday reported a consolidated net profit of Rs 284.2 crore for the quarter ended March 31, up 1.9 per cent on a year-on-year basis.

Its quarterly revenue grew to Rs 1,154.8 crore from Rs 965 crore a year ago, according to a regulatory filing. 

According to Zee Business research, IRCTC was estimated to log a consolidated net profit of Rs 311 crore and revenue of Rs 1,146 crore for the January-March period. 

While revenue from IRCTC's catering business grew 34.1 per cent to Rs 530.8 crore, that from its internet ticketing unit increased 16 per cent to Rs 342.4 crore.

Revenue growth in its Rail Neer packaged drinking water unit stood at 13.1 per cent to Rs 83 crore and in its tourism unit at 11.6 per cent to Rs 154.6 crore.

The State Teertha unit logged a decline of 28.1 per cent in revenue to Rs 47.1 crore.

The IRCTC board recommended a dividend of Rs  per equity share for FY24, subject to shareholders' approval. Read more on IRCTC dividend

Earlier in the day, IRCTC shares ended weaker by Rs 17.6, or 1.6 per cent, at Rs 1,082.7 apiece on BSE. 

(This story will be updated shortly)

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