IRCTC Shares Trade In Green Ahead Of Dividend Announcement And Q2FY24 Results

IRCTC Shares: The share price of Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) remained in focus on Tuesday as the state-owned railway company is all set to announce its Q2 FY24 earnings and interim dividend for its shareholders today.

IRCTC shares were seen trading 1.54% higher at Rs 681.75 per share at 2:30 pm IST.

Earlier, the railway PSU had fixed November 17 as the record date for such an interim dividend, if declared.
Indian Railway Catering & Tourism Corporation Ltd. has declared 8 dividends since Feb. 24, 2020. In the past 12 months, Indian Railway Catering & Tourism Corporation Ltd. has declared an equity dividend amounting to Rs 5.50 per share, according to Trendlyne data.

At today's intraday share price of Rs 680.50, this results in a dividend yield of 0.81%.

In Q1 FY24, the company saw a 5.42% YoY decline in its consolidated net profit to Rs 232 crore, while the company's revenue from operations rose 17.46% YoY at Rs 1,002 crore, compared to the revenue of Rs 853 crore.
The Indian government has a 62.4% stake in the company as of Q2FY24, regular shareholders own 20%, while foreign portfolio investors (FPIs) and domestic institutional investors each own 7.1% and 10.5%, respectively, Trendlyne data showed.

Last one year and YTD performance of IRCTC shares

IRCTC shares have fallen 10.72% in the last one year, while the stock's year-to-date (YTD) performance is up 6.19%.

Analysts expect IRCTC to report a rise in hospitality and catering revenue. The company can also see an increase in business revenue from online railways along with other transport ticket bookings. Thus, an improvement in the margins of the company and profit growth is also likely. Market experts believe that the railway PSU will see a double-digit YoY growth in consolidated net profit and revenue.