Indian Railway Catering and Tourism Corporation (IRCTC) announced its January-march quarter results for fiscal 2023-24 (Q4FY24) and reported a rise of 2% in its consolidated net profit at ₹284 crore, compared to ₹279 crore in the last year.
The Indian Railway’s e-ticketing and catering arm reported a rise of 19% in revenue from operations to ₹1,155 crore in the March quarter, compared to ₹965 crore in the last year.
Subject to the approval of shareholders, the public sector undertaking (PSU) board recommended a final dividend of rupees 4 per share, at 200% of the paid-up share capital, of face value of Rs. 2 each for FY24.
IRCTC in a regulatory filing to the stock exchanges, said that the final dividend is in addition to the interim dividend of Rs.2.50 per share (at 125 per cent of the paid-up share capital) announced by the board of directors in November 2023 and already paid to the shareholders.
On an operating level, the railway PSU’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 11.6% to ₹362.4 crore as compared to ₹324.6 crore in the same period last year. Margin came in at 31.4 per cent compared to 33.6 per cent in the year-ago period.
The contribution of internet ticketing to overall revenue decreased to 31 per cent from 32.8% last year and 37.1% in FY23.
IRCTC’s catering business, the second-largest revenue contributor grew 34.1% to ₹530.8 crore. The revenue growth in its Rail Neer packaged drinking water unit stood at 13.1% to ₹83 crore and in its tourism unit at 11.6 per cent to ₹154.6 crore.
Last Month IRCTC announced that train passengers travelling in unreserved compartments are now getting hygienic meals and snacks at reasonable prices at stations under a new initiative by the national transporter. These meal counters are operational at over 100 stations and nearly 150 counters across the railway network and the facility will be enlarged further.
The economy meal costs ₹20 and the snack meal comes at ₹50. Passengers can buy their refreshments directly from these counters, wiping out the need to search for vendors or venture outside the station.
Author: Sangi Roy
Student of mass communication with a deep passion for print media and reading. My hobbies include traveling, exploring ancient history, and visiting museums.
