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Meghna Sen

IRCTC Q2 results: Net profit up 42.5% to ₹226 cr; revenue soars nearly 100%

IRCTC Meghna Sen (Person)
The IRCTC has more than 10 crore users, of which 7.5 crore are active users (PTI)

However, on a sequential-basis, the company's profit dropped 7.7% from ₹245.5 crore recorded in the previous quarter (Q1FY23).

The company's revenue from operations soared 99% on-year to ₹805.8 crore in the quarter under review as against ₹404.9 crore in Q2FY22.

During the quarter, the PSU's total expenses soared to ₹524 crore, as compared to ₹207.4 crore in the year-ago period.

Catering, which is the second-largest revenue contributor, saw its sales rise 368% on-year to ₹334 crore in the reported quarter as against ₹71.4 crore in the same quarter last year.

Sales from internet ticketing rose 13% YoY to ₹300 crore from ₹265 crore in Q2FY22.

IRCTC's total income jumped 105% to ₹832 crore in Q2FY23 from ₹405 crore in Q2FY22.

Shares of IRCTC were up 1.50% to close at ₹759.00 on the National Stock Exchange.

ABOUT THE AUTHOR

Meghna Sen

Meghna Sen is a deputy chief content producer at Livemint where she tracks companies, news, markets. She has 5+ years of experience with print and online publications. Email: meghna.sen@htdigital.in
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
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