IRCTC shares drop 5% after mixed Q4 results, announces Rs 4/share dividend

IRCTC share price today NSE, IRCTC Q4 results, IRCTC dividend 2024: Indian Railway Catering and Tourism Corporation (IRCTC) dropped over five per cent on Wednesday, May 29, a day after the railway public sector company reported a mixed Q4 show. The railway PSU stock declined 5.16 per cent to the day's low of Rs 1,027.15 on NSE in morning deals. The counter closed at Rs 1,044.5, down 3.56 per cent on NSE.

IRCTC Q4 result review: How market wizard Anil Singhvi views IRCTC Q4 nos.?

Zee Business Managing Editor Anil Singhvi pointed out that IRCTC numbers were in line with estimates but margins were under pressure. 

Earlier in the day, Zee Business analyst Varun Dubey gave a sell call on IRCTC shares for a target of Rs 1,050 with a stop loss at Rs 1,100 on Traders' Diary.

IRCTC Q4 FY24 results 

On Tuesday, IRCTC, the only firm authorised by the Indian Railways to manage food services onboard trains and provide online railway ticket booking services, posted 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. IRCTC's 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. Read more on IRCTC Q4 results 

IRCTC dividend 2024: 200% payout 

IRCTC has recommended a dividend of Rs 4 per equity share for FY24, subject to shareholders' approval. Read more on IRCTC dividend

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