IRCTC Q4 Results Highlights: Net profit up 2% YoY at ₹284 crore, revenue grows 19%; dividend declared

• Net profit grows 2% YoY to ₹284 crore
• Revenue from operation jumps 19% YoY to ₹1,155 crore
• Final dividend of ₹4 per equity share declared

• The net profit in the entire fiscal year ended March 31, 2024, grew 10.4% to ₹1,111 crore, as compared to ₹1,006 crore in FY23.
• The revenue from operations in FY24 came in at ₹4,270 crore, up 20% as against ₹3,542 crore in FY23.

IRCTC said its board of directors has recommended a final dividend of ₹4 per share of face value of ₹2 each for FY24. The payout will be subject to the approval of shareholders at the upcoming annual general meeting.

The consolidated revenue from operations grew 19% YoY to ₹1,155 crore in Q4FY24, as compared to ₹965 crore in Q4FY23, as per the IRCTC's regulatory filing.

The state-run company has declared a consolidated net profit of ₹284 crore for the quarter ended March 2024, up by only 2% as compared to ₹279 crore in the year-ago period.

IRCTC shares settled 1.66% lower at ₹1,083 on the NSE at closing bell. The company is expected to declare its results for the March 2024 quarter shortly.

IRCTC had declared a final dividend of ₹2 per equity share of face value of ₹2 each for the fiscal year ended March 31, 2023.

The board of IRCTC is likely to declare the final dividend today. The announcement is expected to be made along with the release of the results for the fourth quarter, as well as the entire fiscal year ended March 31, 2024.

The company’s revenue from operations had come in at ₹965.02 crore in the fourth quarter of FY23, higher by 39.7% as against ₹690.96 crore in the year-ago period.

IRCTC's stock has rallied by 23.1% in 2024 so far, and the surge has been sharper at 72% in the last one year.

• In the March 2023 quarter, IRCTC had posted a 30.4% year-on-year jump in net profit to ₹278.8 crore.
• In comparison, its net profit stood at ₹213.8 crore in corresponding period of the preceding fiscal.

Shares of IRCTC were in the red ahead of the release of Q4 results later today. The stock was trading 1% lower at ₹1,090 apiece on the NSE, shortly after the opening bell.

The Indian Railway Catering & Tourism Corporation (IRCTC) is among the companies that will post their results for the fourth quarter (January-March) of fiscal year 2024. Along with the Q4 results, the IRCTC board will also consider and approve the release of the earnings report for the entire FY24. Stay tuned here for the latest updates.

While the net profit and revenue clocked by IRCTC in the fourth quarter will remain in focus, analysts and investors would also keep a keen eye on the dividend that is likely to be announced by the PSU.

How IRCTC performed in the year-ago quarter

In the March 2023 quarter, IRCTC had posted a 30.4% year-on-year jump in net profit to ₹278.8 crore, as compared to ₹213.8 crore in corresponding period of the preceding fiscal.

The company’s revenue from operations had come in at ₹965.02 crore in the fourth quarter of FY23, higher by 39.7% as against ₹690.96 crore in the year-ago period.

IRCTC had also declared a final dividend of ₹2 per equity share of face value of ₹2 each for the fiscal year ended March 31, 2023.

IRCTC stock

A day before the release of Q4FY24 results, IRCTC stock edged lower, settling 0.7% down at ₹1,101.25 apiece on the National Stock Exchange (NSE). Year-to-date, the stock has rallied by 23.1%, and the surge has been sharper at 72% in the last one year.