IRCTC’s net profit doubles on year to 2.14bn
The Indian Railway Catering and Tourism Corp Ltd’s (IRCTC) net profit in the March quarter doubled on year to INR 2.14 billion, and revenue surged twofold to INR 6.91 billion.
Sequentially, the net profit rose 2.4% and revenue rose 27.9%.
The company’s other income rose to INR 258.33 million from INR 194.65 million year ago.
In January-March, total expenditure, including finance cost, was at INR 4.3 billion compared with INR 2.16 billion a year ago.
Finance cost declined to INR 29.76 million from INR 37.38 million a year ago.
The company incurred one-time loss of INR 40.05 million during the quarter for expenses relating to provisions for previous years.
Operating margin contracted to 40.31% in Jan- Mar from 42.82% a year ago. (Source: Free Press Journal)