The government-owned company, IRCTC, known for its monopoly in online railway ticket bookings, is making waves with impressive financial gains.
In just three months, the company has recorded substantial profits, and the good news extends to you as well. IRCTC is offering a generous 125% profit to its shareholders.
IRCTC, the Indian Railway Catering and Transportation Corporation, is the go-to platform for online railway ticket reservations and is also renowned for its low-commission flight ticket bookings.
In addition to these services, IRCTC offers various national tour packages, all contributing to its financial success.
Impressive Q2 Earnings
During the July-September quarter of the current fiscal year (2023-24), IRCTC reported a profit of Rs 294.7 crore, marking a significant increase of 30.4% compared to the previous year’s profit of Rs 226 crore for the same period.
The company’s total revenue for this period also surged by 23.5% to reach Rs 995.3 crore, compared to Rs 805.80 crore in the same quarter of the previous year.
Boost from Pilgrimage Services
IRCTC plays a crucial role in organizing pilgrimage trips for state governments and Indian Railways, resulting in a substantial earnings boost of 119%.
In the July-September quarter, this revenue amounted to Rs 64.84 crore, a remarkable increase from Rs 29.62 crore during the same period last year.
125% Dividend for Shareholders
In addition to its impressive financial performance, IRCTC has announced an interim dividend for its shareholders.
Shareholders will receive a dividend of Rs 2.50 per share with a face value of Rs 2, representing an impressive 125% of the share’s face value.
On Tuesday, IRCTC shares closed at Rs 680.85, marking a 1.41% increase. It’s worth noting that IRCTC is a publicly traded company listed on the stock exchange.
