Ahead of the railway ticketing company’s June quarter results, shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC), which provides ticketing, catering, and tourism services, were trading at a lower level. According to Prabhudas Lilladher, the state-run company’s net profit for the June quarter increased 6.7% year over year (YoY) to Rs 303.30 crore from Rs 284.10 crore during the same quarter the previous year.
Sales for the quarter increased 11.2% YoY to Rs 1,114.20 crore from Rs 1,001.80 crore in the same period the previous year. The estimated EBITDA for the quarter is Rs 393.40 crore, with a margin of 35.30 percent, an increase of 107 basis points.
Prabhudas Lilladher projects that IRCTC will book 11.6 crore tickets online, bringing in Rs 320 crore in ticket sales for the quarter. It is anticipated that catering revenue will reach Rs 510 crore, up 7% YoY. The tourism industry is predicted to grow by 11% annually. All things considered, the brokerage projects that IRCTC’s revenues will rise 11.2% YoY to Rs 1110 crore, with an EBITda margin of 35.3%. The brokerage set a multiple of 47.5 times over FY26E EPS and kept its “Reduce” rating with a target price of Rs 811.
On Wednesday, August 14, 2024, at 11.30 am, IRCTC will host an earnings conference call for analysts and investors to discuss Q1FY25 results. In addition, the company’s 25th Annual General Meeting is scheduled for Friday, August 30 at 12:30 p.m.
On Wednesday, August 14, 2024, at 11.30 am, IRCTC will host an earnings conference call for analysts and investors to discuss Q1FY25 results. In addition, the company’s 25th Annual General Meeting is scheduled for Friday, August 30 at 12:30 p.m.
The “record date” to ascertain which members are eligible to receive the final dividend for the fiscal year 2023–2024 is Friday, August 23, 2024, according to the IRCTC. If the dividend is declared at the AGM, it will be disbursed within thirty (30) days of the AGM’s conclusion.
