Indian Railway Catering and Tourism Corp. Ltd.’s second-quarter revenue rose, aided by better rail journey and better contribution from catering and tourism segments.
The consolidated internet revenue of the corporate rose 43% to Rs 226 crore within the quarter ended September, as in comparison with Rs 158.6 crore final yr, based on its alternate submitting.
IRCTC Q2 FY23 Highlights (Consolidated YoY):
Income rose 99% to Rs 805.8 crore, towards Rs 404.9 crore over the identical interval final yr.
Ebitda rose 44% to Rs 304.9 crore versus Rs 211.5 crore final yr.
Ebitda margin stood at 37.8%, in contrast with 52.2% final yr.
The sharp drop in margin is as a result of profitability got here from catering and tourism, that are low-margin segments.
Catering and tourism section’s contribution to topline elevated to 41.5% and eight.6%, respectively, within the quarter from 17.6% and 6.7% within the comparable interval final yr.
The contribution of high-margin web ticketing section fell to 37% from over 65% final yr.
The cooked meal service, halted throughout the pandemic to curb the unfold of the virus, was resumed earlier this yr. Therefore, there was a rise within the catering gross sales, the corporate stated.
Shares of the corporate ended 1.5% increased earlier than the outcomes had been introduced, towards a 0.1% fall within the Nifty 50.