Shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC), which offers ticketing, catering, and tourism services, were trading lower ahead of the railway ticketing firm’s June quarter results. Prabhudas Lilladher expects the state-run company to report 6.7 per cent year-on-year (YoY) rise in net profit at Rs 303.30 crore for the June quarter compared with Rs 284.10 crore in the same quarter last year.
Sales are seen rising 11.2 per cent YoY to Rs 1,114.20 crore compared with Rs 1,001.80 crore in the same quarter last year. Ebitda for the quarter is seen coming in at Rs 393.40 crore, while margin is seen at 35.30 per cent, up 107 basis points.
Prabhudas Lilladher expects IRCTC’s online ticket booking figure to reach 11.6 crore, resulting in ticketing revenue of Rs 320 crore for the quarter. Catering revenue is expected to increase 7 per cent YoY to Rs 510 crore. Tourism business is seen growing at 11 per cent YoY. Overall, the brokerage expects IRCTC’s revenues to increase 11.2 per cent YoY to Rs 1110 crore with Ebitda margin of 35.3 per cent. The brokerage maintained its ‘Reduce’ rating with a target price of Rs 811 after assigning a multiple of 47.5 times over FY26E EPS.
IRCTC would be holding the earning conference call for analysts and investors on Wednesday, August 14, 2024, at 11.30 am, to discuss Q1FY25 results. Besides, the 25th Annual General Meeting of the company will be held on Friday, August 30 at 12:30 pm.
IRCTC will hold the earning conference call for analysts and investors on Wednesday, August 14, 2024, at 11.30 am, to discuss Q1FY25 results. Besides, the 25th Annual General Meeting of the company will be held on Friday, August 30 at 12:30 pm.
Record Date
IRCTC fixed Friday, August 23, 2024 as the “record date” to determine the members entitled to receive final dividend for the financial year 2023-24. The dividend, if declared at the AGM, will be paid within a period of 30 (thirty) days from the conclusion of the AGM.
Comments
0 comment