IRCTC Q1 Results: Profit, Revenue Meet Estimates

Indian Railway Catering and Tourism Corp.'s profit and revenue rose in the first quarter of the financial year, meeting the Street's expectations.

The government-owned ticketing platform reported a 33% rise in consolidated net profit to Rs 308 crore in the April-June quarter, compared to Rs 232 crore in the same period last year, according to an exchange filing on Tuesday. Analysts' estimates compiled by Bloomberg had projected the figure at Rs 308 crore.

Revenue increased by 11.8% year-on-year for the three months ended June, reaching Rs 1,120 crore. Analysts had projected revenue of Rs 1,175 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, was up 9% year-on-year to Rs 344.1 crore. The Ebitda margin contracted to 33.6% from 34.3% in the same period the previous year. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 402 crore and 34.2%, respectively.

Shares of IRCTC closed 0.6% lower at Rs 918.30 apiece on the BSE, compared to a 0.87% decline in the benchmark Sensex.