Indian Railway Catering and Tourism Corporation (IRCTC) on Monday reported a net profit of ₹158.6 crore for the second quarter ended September 2021. This reflected a 386 per cent surge – nearly five time increase – over the net profit of ₹32.6 crore recorded in the same quarter last fiscal.
The latest bottomline performance is nearly double the net profit of ₹82.52 crore recorded in the first quarter this fiscal. IRCTC’s net profit for the six months period ended December 31, 2021 came in at ₹241 crore, which was three times the net profit of about ₹80 crore in the same period last year.
Jump in total revenues
For the quarter under review, IRCTC’s total revenue surged to ₹421 crore as against revenue of ₹109 crore in the same quarter last fiscal. Internet ticketing segment recorded revenue of ₹265 crore (₹58.29 crore). In the first quarter this fiscal, this segment clocked revenue of ₹150 crore.
Catering business revenue saw a four fold increase to ₹71.4 crore. Rail Neer revenue rose to ₹41.2 crore, from ₹9.2 crore in same quarter a year ago. Meanwhile, the IRCTC stock which recovered intraday losses after the earnings announcement, closed at ₹856 at the National Stock Exchange on Monday, up ₹10.30 (1.22 per cent) over the previous day’s close of ₹845.70 per share.