Indian Railway Catering and Tourism Corporation (IRCTC) on November 14 reported a 42 percent rise in net profit at Rs 226 crore for the quarter ended September 30, 2022. The catering arm of Indian Railways had reported a net profit of Rs 159 crore in the year-ago period.
The company's net profit, however, dropped 7.7 percent from Rs 245.5 crore recorded in the previous quarter (Q1FY23).
Revenue from operations surged 99 percent to Rs 806 crore in the quarter under review from Rs 405 crore in the same quarter last fiscal.
Moreover, IRCTC's total income surged 105 percent to Rs 832 crore in Q2FY23 from Rs 405 crore in Q2FY22.
IRCTC's catering services, one of the prime contributors to revenue, reported a multi-fold increase to Rs 334 crore as against Rs 71 crore on the back of country's resumption of trains and catering services in full blow after being hit by COVID-19 pandemic.
Other segments, such as internet ticketing revenue also increased 13 percent to Rs 300 crore from Rs 265 crore year-on-year.
Shares of IRCTC on Monday closed 1.46 percent higher at Rs 758.90 apiece on BSE. The scrip gained over 2 per cent in early trading hours. IRCTC shares opened higher at Rs 751.10 today. Later, IRCTC stock hit an intraday high of Rs 763.85 rising 2.13 per cent against the previous close of Rs 747.95 on BSE.