IRCTC Q2 Profit Soars 30% to Rs 295 Cr - Business News
Nov 08, 2023 10:31
IRCTC's net profit jumped 30.36% to Rs 294.67 crore in Q2 FY24, driven by a 23.51% rise in revenue. The company also declared an interim dividend.
New Delhi, Nov 8 (PTI) State-owned IRCTC on Wednesday reported 30.36 per cent rise in net profit at Rs 294.67 crore for September quarter 2023-24.
The company had logged a net profit of Rs 226.03 crore in the year-ago period, it said in a BSE filing.
Total revenue increased 23.51 per cent to Rs 995.31 crore in comparison to Rs 805.80 crore in Q2FY23, Indian Railway Catering and Tourism Corporation (IRCTC) said.
The company said its board has declared an interim dividend of Rs 2.50 per equity share.
IRCTC was conceived as an extended arm of Indian Railways with an aim to upgrade, professionalise, and manage catering and hospitality services at stations, on trains, and other locations.
Additionally, it has been instrumental in promoting both domestic and international tourism. The company comes under Ministry of Railways.
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