Indian Railway Catering and Tourism Corporation (IRCTC) on Thursday reported a net profit of Rs 82.5 crore for the quarter ended June 30. IRCTC, the catering and tourism arm of the Indian Railways, had posted a net loss of Rs 24.60 crore for the corresponding period a year ago, hurt by the coronavirus-induced lockdown.

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Revenue from operations rose 85.4 percent to Rs 243.4 crore on a year-on-year basis.

IRCTC's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 111.5 crore in the first quarter of the current financial year. It had posted an EBITDA loss of Rs 43.9 crore in the year-ago period.

IRCTC’s catering revenues plummeted 36.84 percent to Rs 56.78 crore in the quarter.

Revenue from the tourism business, however, jumped more than four times to Rs 149.97 crore, from Rs 35.23 crore in the year-ago period.

Revenue from the railway internet ticketing business increased to Rs 7.41 crore from Rs 2.95 crore a year ago.

The company's board recommended splitting of the stock into a ratio of 1:5 subject to the approval of Ministry of Railways and shareholders, among others.

IRCTC said the stock split will help enhance liquidity in the capital market, widen the shareholder base and make the shares affordable to small investors.

IRCTC shares ended 4.60 percent higher at Rs 2,689.85 apiece on BSE after the earnings announcement. The stock outperformed the headline Sensex index, which climbed up 0.58 percent.

First Published:Aug 12, 2021 3:49 PM IST