Led by online ticket, IRCTC Oct-Dec net profit surges 3-fold sales

A fivefold rise in profit in the online ticketing segment helped Indian Railway Catering and Tourism Corp Ltd post a nearly threefold on-year surge in net profit for the December quarter to 2.06 bln rupees.

Revenue for the quarter surged nearly 65% to 7.16 bln rupees, largely due to a fourfold rise in online ticket sales.

Profit from catering services, its biggest sales segment in the quarter, fell 23% while revenue from the segment rose 8% on year.

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Profit from state teertha during the quarter rose over fivefold on year, while revenue rose nearly 10-fold.

In Oct-Dec, total expenditure, including finance cost, was at 4.65 bln rupees compared with 3.42 bln rupees a year ago. Finance cost was at 19.88 mln rupees during the quarter.

The company's operating margin expanded sharply to 37.11% in Oct-Dec from 22.73% a year ago.

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Tax outgo for the December quarter was at 646.16 mln rupees as against 388.22 mln rupees a year ago.

The company's net profit for the September quarter was 998.24 mln rupees, and revenue was 5.13 bln rupees.

The company will pay an interim dividend of 10 rupees per share. Record date for the same will be Feb 25.

At 1224 IST, shares of the company were up 11.9% at 1,583.50 rupees on the National Stock Exchange (NSE).