2.50/Share Dividend: Miniratna PSU Company IRCTC Posts 30% Growth In Net Profit

The state-owned railway company Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) on Tuesday announced its results for the quarter ending September 2023 and declared an interim dividend of Rs 2.50 per equity share of face value of Rs 2 each for the financial year 2023-24. The interim dividend of Rs 2.50 per share announced today represents 125% of the paid-up share capital amounting to Rs 160 crore. The company has fixed November 17, 2023, as the Record Date for the purpose of payment of Interim Dividend of the FY 2023-24.

In Q2FY24, the company's net profit rose 30.36% at Rs 294.67 crore compared to Rs 226.03 crore in the same quarter of the prior financial year.

In an exchange filing the company said that during this period, the total revenue of the company grew 23.51% at Rs 995.31 crore compared to Rs 806 crore in the year-ago quarter.

EBITDA for the quarter stood at Rs 366.5 crore, up 20.2% compared to Rs 304.9 crore in the same quarter a year ago. Meanwhile, EBITDA margin was at 36.8% as compared to 37.8% in the year ago period.
IRCTC shares closed 1.41% higher at Rs 680.85 on BSE today.