IRCTC Q3FY22 Results: Profit jumps 167% YoY to Rs 209 crore; declares interim dividend of Rs 2 for FY22

Indian Railway Catering and Tourism Corporation (IRCTC) today reported a sharp 167.4 per cent Year-on-Year (YoY) rise in the net profit at Rs 208.80 crore for the quarter ended December 31, 2021. The government-owned company had reported a profit of Rs 78.08 crore in the corresponding quarter of the previous financial year.

Sequentially, the company's profit rose 31.67 per cent from Rs 158.57 crore posted at the end of the September 2021 quarter. The profits rose owing to a low base in the year-ago period and contribution from all the segments.

Revenue from operations grew 140.76 per cent YoY to Rs 540.21 crore against Rs 224.37 crore posted in the same period of the last financial year. Sequentially, the top line grew 33.40 per cent from Rs 404.93 crore.

EBITDA (earnings before interest, tax, depreciation and amortisation) grew 195 per cent YoY to Rs 279.18 crore in the quarter ended December 2021 against Rs 94.63 crore posted in the year-ago quarter.

Segment-wise, revenue from catering services surged by 113.78 per cent to Rs104.65 crore during the third quarter under review against Rs 48.95 crore posted in the corresponding quarter of last year.

The revenues from internet ticketing business have also more than doubled, rising 118.78 per cent to Rs 312.86 crore in the December quarter against Rs 143 crore posted in the year-ago period.

Meanwhile, tourism segment revenues zoomed by a massive 341.46 per cent to Rs 68.25 crore in the third quarter against Rs 15.46 crore posted in the December quarter of last year.

The company also declared an interim dividend of Rs 2 per share on equity shares of the face value of Rs 2 each for the financial year 2021-22. It has fixed February 18, 2022, as the record date for the purpose of payment of interim dividend.

The Board of Directors of the Company has also appointed Mr. Debashis Chandra, Director (Catering Services) as Key Managerial Personnel (KMP) of the Company w.e.f. February 8, 2022. Mr Chandra is an Officer of Indian Railway Traffic Service of 1993 batch. He is technically qualified in Hotel Management, Catering Technology and Applied Nutrition from the Institute of Hotel Management, Kolkata.