IRCTC’s net profit more than doubled during the January-March period to ₹214 crore: Dividend declared.

IRCTC’s net profit more than doubled during the January-March period to ₹214 crore, compared with ₹104 crore in the corresponding period of last year.

IRCTC, the catering and tourism arm of Indian Railways, reported 103% growth in revenue from operations to ₹691 crore in the fourth quarter as against ₹339 crore in the last year quarter.

The company’s board has recommended a dividend of ₹1.50 per share for the financial year 2021-22.

On Monday, IRCTC’s scrip rose 6.67% to settle at ₹696 on NSE.

Segment wise, revenues from catering business have risen nearly 300% to ₹267 crore in the reporting period, compared with a meagre ₹67 crore in the same period last year.

Meanwhile, internet ticketing revenue increased 38% to ₹292 crore, while that from the tourism segment rose 74% to ₹54 crore.

IRCTC said it has requested the railway board to reconsider waiving off the fixed charges amounting to ₹27 crore up to 31 March, 2021 for non-operational period of three private trains considering it as a force majeure situation. The matter is pending, but the company said it has made adequate provision for these charges

By NewsByts Team

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