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IRCTC or Indian Railway Catering and Tourism Corp shares fell on Thursday, a day after the Indian Railways' ticketing arm reported a slump of 820 basis points in its quarterly margin compared with the corresponding period a year ago. The company's profitability improved, however, investors remained concerned about its core business.

IRCTC reported a net profit of Rs 248.5 crore for the quarter ended June 2022, nearly three times more compared with the year-ago period.

The share of revenue from its internet ticketing unit came down to 35.4 percent for the April-June period from 42.3 percent in the previous three months.

IRCTC reported a 3.5 times jump in its total revenue for the April-June period compared with the year-ago period — thanks to growth in businesses other than internet ticketing.

Revenue contribution from IRCTC's internet ticketing unit slumped by 2,620 basis points in the quarter ended June 2022 compared with the corresponding period a year ago.

IRCTC shares have rewarded investors with a return of 13.3 percent in the past one month. In comparison, the Nifty50 benchmark has risen almost nine percent during the time.

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First Published:Aug 11, 2022 3:07 PM IST