IRCTC net profit up 42 per cent to Rs 226 cr in Q2, nearly 100 per cent growth

Indian Railways: Indian Railway Catering and Tourism Corporation’s net profit from continuing operations after tax rose 42.5% to Rs 226 crore for the three months ended September 2022. In the same quarter of the previous year, the company had reported a profit of Rs. 158.5 million.

However, compared to 245.5 billion in the previous quarter, the company’s profit decreased by 7.7% compared to the previous quarter (Q1FY23). During the quarter under review, the company’s turnover increased by 99% from the corresponding time of the previous year to 805.8 billion from 404.9 million in the second quarter of 2002.

Total PSU expenses during the quarter rose to 524 million from 207.4 million at the same time last year.

Sales of the second largest source of revenue, the catering industry, rose 368% year-over-year to 334 billion in the reported quarter, compared to 71.4 billion in the same quarter last year.

Q2FY22 Internet ticket sales were 265 million; on an annual basis, they grew by 13 percent to 300 million. IRCTC’s total revenue grew by 105% from ₹405 crore in the second quarter of 2022 to ₹832 crore in the second quarter of 2023. IRCTC shares rose 1.5% to close at $759.00 on the national bourse.