NEW DELHI: Indian Railway Catering and Tourism Corporation (IRCTC) on Wednesday reported a three-fold surge in net profit to Rs 246 crore for the quarter ending June 30, 2022, as against a net profit of Rs 82.5 crore in the year-ago period.
The company’s revenue from operations rose 251% to Rs 853 crore in Q1FY23 from Rs 243 crore in Q1FY22. EBITDA or earnings before interest, taxes, depreciation and amortization for IRCTC came in at Rs 320.9 crore in Q1FY23 as against Rs 111.5 crores in Q1FY22.
In terms of the different segments, IRCTC’s all five businesses reported growth in volume. Its revenue from the catering services business soared to Rs 352 crore in Q1FY23 from Rs 56.7 crore in Q1FY22. At the same time, the company’s Internet ticketing business posted a revenue of Rs 301.6 crore, Rail Neer business posted Rs 83.6 crore, and the tourism business’ revenue amounted to Rs 81.9 crore while its State Teertha business reported a revenue of Rs 33.2 crore.
“Catering contracts awarded before 22 March 2020 have been treated as zero period due to pandemic and accordingly, no income, as well as Railways, share payable has accrued during the year 2020-21 and for the period 26.11.2021,” the company said in a BSE filing.
On Wednesday, the share price of IRCTC closed over 2% higher to Rs 673.1 per share on the BSE compared to a 0.06% fall in the S&P Bombay Stock Exchange Sensex.