India's IRCTC jumps to 1-week high as Q3 earnings jump

Indian Railway Catering and Tourism

09/02/2023 09:16

** Shares of Indian Railway Catering and Tourism Corporation
(IRCTC)  INIR.NS  rise as much as 1.73% to 652.40, their highest
since Feb 1
    ** The rise comes after the co, which is engaged in internet
ticketing, catering and tourism, reports a 22.5% rise in profit
after tax to 2.56 bln rupees in the third quarter
    ** Core profit rises nearly 17% to 3.26 bln rupees in Q3,
compared with 2.79 bln rupees in the year-ago period 
    ** Core profit margin, however, contracts to 35.73% from
51.67%, dragged by a more than two-fold hike in total costs
    ** IRCTC also declares an interim dividend of 3.50 rupees
per share for FY2022-23
    ** Trading volume is more than 1.81 mln shares, 1.5 times
the 30-day avg of 1.24 mln shares - Refinitiv data
    ** Of the six analysts tracking IRCTC, one maintains "buy",
one suggests "hold" and four recommend "sell" - Refinitiv data
    ($1 = 82.6350 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))