Shares of Indian Railway Catering and Tourism Corporation (IRCTC) gained as much as 3.5 percent to Rs 868 on Wednesday after the company reported a sharp rise in its December quarter earnings after market hours on Tuesday.

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At 9:35 am, shares of IRCTC were trading at Rs 853.80, up 15.70 points, or 1.87 percent higher on the BSE.

IRCTC's net profit stood at Rs 209 crore for the third quarter ended December 31, 2021 - a 168 percent year-on-year (YoY) jump.

In the corresponding quarter last year, the company posted a net profit of Rs 78 crore. The income for the quarter climbed 141 percent YoY to Rs 540 crore from Rs 224 crore in the same quarter last year.

Also Read: IRCTC Q3 results: Net profit spikes 168% YoY to Rs 209 crore

EBITDA (Earnings before interest, taxes, depreciation, and amortization) jumped 195 percent to Rs 279.1 crore in Q3 December 2022 over Rs 94.5 crore in Q3 December 2021. EBITDA margin stood at 51.6 percent in Q3 December 2022 as compared to 42.1 percent in Q3 December 2022.

"The outbreak of coronavirus pandemic globally and in India is causing significant disturbance and slowdown of economic activity. However, the business activities of the company are going gradually on track in line with the lifting of restrictions as were imposed by the State and Central governments," said IRCTC.

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The company also said its board of directors declared an interim dividend of Rs 2 per share for the financial year 2021-22 and has fixed February 18 as the record date for the purpose of its payment.

Segment-wise, IRCTC’s revenue from catering services increased 117 per cent to Rs 104 crore during the December quarter of FY22 as compared to Rs 48 crore in the corresponding quarter of last year.

On the other hand, its tourism segment revenue increased 353 per cent to Rs 68 crore in Q3FY22 as compared to Rs 15 crore in the year-ago period.

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First Published:Feb 9, 2022 9:39 AM IST