IRCTC set to announce Q2FY24 results, dividend today; here's what to expect
Diwali 2023: IRCTC announces 5 nights 6 days package to Andaman and Nicobar Islands. Check price, itinerary here Saurabh Jain, Vice President - Research at SMC Global Securities, said, “IRCTC's focus on other than online ticket booking business is expected to reflect in the balance sheet of the company in the upcoming Q2 results." "The market is expecting that IRCTC may report a rise in hospitality and catering revenue.
The Indian Railways' PSU may also report a rise in business revenue from online railways and other transport ticket bookings. So, the market is expecting an improvement in the margins of the company and a rise in profit," he added.
Anirudh Garg, Partner and Head of Research at Invasset said that the IRCTC's projections for this quarter are robust, with a substantial expected 24.3% year-on-year increase in the IRCTC's consolidated net profit, reaching an impressive ₹281 crore. "It's not just profitability that's expected to shine; revenue is also anticipated to experience significant growth, with a remarkable 27.7% YoY increase estimated, pushing it to ₹1,029 crore.
These promising figures reflect IRCTC's ability to tap into the growing demand in India's railway sector." "Additionally, the spotlight is on Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). Forecasts suggest that IRCTC will announce an EBITDA of ₹357 crore for the quarter ending on September 30, 2023, signifying a notable 17.2% increase compared to the same period the previous year.
All eyes are on IRCTC as the results are awaited with much anticipation," he added. Also Read: Indian Railways set to launch Bharat Gaurav train for 15-day NE tour: Check route, package In Q1 FY24, the company reported a 5.42% YoY drop in
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