IRCTC shares down over 4% after weaker-than-expected Q4 results, dividend announcement

The stock was trading 4.6% lower at ₹1,032 apiece on the NSE at 10:10 am. The company's market capitalisation stands at ₹82,684 crore.

The scrip was trading at ₹1,034, down 4.4% on the BSE.

IRCTC Q4 results

IRCTC reported a 1.9% increase in its consolidated net profit to ₹284.2 crore for Q4 FY24, up from ₹278.7 crore in the corresponding period last year.

Revenue from operations rose by 19% to ₹1,154.8 crore in the latest March quarter, compared to ₹965 crore in the year-ago period.

The earnings were below analysts' expectations, who had projected a net profit of ₹311 crore and revenue of ₹1,146 crore for the quarter under review.

IRCTC's board recommended a final dividend of ₹4 per equity share for FY24, subject to approval of shareholders.

For the full financial year 2023-22, the net profit increased 10.4% to ₹1,111 crore compared to ₹1,006 crore in FY23. The revenue from operations also increased 20% year-on-year (YoY) to ₹4,270 crore in FY24.

The revenue from IRCTC's catering business grew by 34.1% to ₹530.8 crore, while the revenue from its internet ticketing division surged by 16% to ₹342.4 crore. The Rail Neer packaged drinking water business revenue growth stood at 13.1% to ₹83 crore, and its tourism unit reported a revenue of ₹154.6 crore, an increase of 11.6% YoY.