Indian Railway Catering and Tourism Corporation (IRCTC) has announced a dividend of Rs 4 for its investors. The company has announced this dividend along with the March quarter results. The company made a net profit of Rs 284 crore in the March quarter of the financial year 2024. This is 2 per cent more than the same period last year. The reason behind this is said to be the increase in ticket sales.
“Recommended a Final Dividend of Rs 4/- per share of the face value of Rs 2/- each for the financial year 2023-24l@200% of the paid-up share capital, subject to the approval of shareholders in the forthcoming Annual General Meeting,” the firm said.
IRCTC has not yet announced the record date for the dividend. The company will spend Rs 256 crore on giving the dividend. It will be the final dividend from the company for FY 24. Let us tell you that the Government of India has a 62.4 per cent stake in this company.
The company’s revenue has increased by 20 per cent. It reached Rs 1154 crore in the March quarter. The results have been worse than the brokerage’s estimate for IRCTC’s profit. Prabhudas Lilladher had estimated that the company would profit Rs 306 crore in the quarter under review, with a growth of 21.2 per cent.
The company’s earnings before interest, tax, depreciation and amortization (EBITDA) for Q4, was at Rs 402.96 crore growing by 3.4 per cent. EBITDA margin was at 34.89 per cent as compared to 36.8 per cent in the year-ago period.
On May 28, IRCTC shares rose 1.60 per cent to close at Rs 1082.70 on BSE. The company’s market cap has reached Rs 87,152 crore. In the last 3 months, this stock has given a 19 per cent return. At the same time, it has increased by 5 per cent in a month. In the last year, this stock has seen a growth of more than 67 per cent. In five years, this stock has given a return of about 600 per cent.
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