IRCTC Shares Surge To Record After Profit Triples In December Quarter

IRCTC Shares Surge To Record After Profit Triples In December Quarter

IRCTC is set to launch its third train Kashi Mahakal Express between Varanasi and Indore.

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) surged as much as 13.41 per cent to hit a new record high of Rs 1,609.30 on the BSE after IRCTC announced that its profit nearly tripled in December quarter. IRCTC which is the only authorised entity to sell tickets of Indian Railways online and via its mobile application was listed in October last year and has been hitting new highs since its listing. Since its listing in October last year, IRCTC has surged 403 per cent from its issue price of Rs 320.

IRCTC’s net profit rose 180 per cent to Rs 205.80 crore in October-December period from Rs 73.59 crore during the same quarter last year.

IRCTC’s revenue from operations jumped 65 per cent to Rs 715.98 crore compared with Rs 435.01 crore during December quarter of last year.

IRCTC’s operational profit or earnings before interest, tax, depreciation and amortization (EBITDA) jumped 187 per cent year-on-year to Rs 283.55. Its EBBITDA margin or operating profit margin improved 17 percentage points to 40 per cent in December quarter.