This miniratna shows staggering 52 per cent growth in PAT!
Company reported 87 per cent growth in sales and recommended dividend.
Indian Railway Catering and Tourism Corporation Ltd (IRCTC) released its financial performance on yesterday for the fourth quarter and fiscal year ending on March 31, 2023.
The company's net profit for the fourth quarter that ended on March 31, 2023, climbed by 28.52 per cent to Rs 278.45 crore from Rs 216.66 crore on a standalone basis, compared to the same quarter last year. The company's overall sales in Q4FY23 increased by 40.11 per cent to Rs 1004.28 crore from Rs 716.79 crore in the same period the year before.
For the fiscal year that ended on March 31, 2023, the company reported a net profit growth of 51.84 per cent, from Rs 663.93 crore on a standalone basis to Rs 1008.09 crore. The company's overall revenue increased by 87.36 per cent when compared to the year ended March 31, 2022, hitting Rs 3661.90 crore as opposed to Rs 1954.48 crore.
A final dividend of Rs 2 per equity share has been recommended by the board, subject to shareholder approval at the AGM. The corporation had already distributed an interim dividend of Rs 3.5 in February 2023 during the current fiscal year.
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Yesterday the scrip closed at Rs 645.60. Today it opened at Rs 645 and close around Rs 643.80. The BSE group 'A' stock has a market cap of around Rs 51,500 crore. It has a 52-week high of Rs 775 and a 52-week low of Rs 557.
IRCTC is a miniratna under the Ministry of Railways, was established on September 27, 1999. Its mission is to enhance, modernize, and oversee catering, hospitality services, and tourism across railway stations, trains, and other sites. It offers budget hotels, exclusive tour packages, advertising, and a global reservation system, fostering domestic and international tourism.