IRCTC posted its quarterly results for Q3 FY22 late on February 8, 2022. The Government company reported a 168% year on year (YoY) jump in its consolidated PAT which came in at Rs 208 crore for the quarter under review from Rs 78 crore in the year-ago period. On a sequential basis, the PAT jumped by 31% QoQ to Rs 158 crore in the previous quarter.
IRCTC’s revenue from operations clocked a 122% YoY increase at Rs 540 crore against Rs 225 crore in Q3 FY21. On a sequential basis, the revenue from operations was up 33% quarter on quarter (QoQ) from Rs 404 crore in Q2 FY22. The revenues from IRCTC’s entire spectrum of segments grew multi-fold and reported remarkable increases. The continuing stringent rules for flight travel seem to have given the railways an impetus in the quarter.
However, the company’s total expenses saw a significant jump, particularly on the back of high catering and tourism services which make up the bulk of IRCTC’s business. The total expenses were up around 95% YoY to Rs 274 crore in the quarter under review from Rs 140 crore in the year ago period.
IRCTC also announced an interim dividend of Rs 2 per share that will be released to the shareholders on February 18, 2022.
In a statement, the company said, “the outbreak of Covid-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. However, the business activities of the company are going gradually on track in line with the lifting of restrictions as were imposed by the state and central governments.”
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Research Analyst: Bavadharini KS