News

Published: May 31, 2023
Updated: May 31, 2023

IRCTC Reports Strong Q4 Profit Growth and Declares 100% Dividend for FY 2022-23

Indian Railway Catering and Tourism Corporation (IRCTC) has announced its financial results for the fourth quarter of FY 2022-23, revealing a significant rise in profit. The company's board has recommended a dividend of Rs 2 per equity share, translating to 100% of the face value. This comes in addition to the interim dividend of Rs 3.50 declared earlier this year. Let's delve into the details of IRCTC's performance and dividend announcements.

IRCTC's Dividend Declaration:

The board of IRCTC has recommended a final dividend of Rs 2 per equity share for the financial year 2022-23. This dividend is subject to approval by the shareholders at the upcoming Annual General Meeting. It is noteworthy that this final dividend is in addition to the earlier declared interim dividend of Rs 3.50 per share.

IRCTC's Dividend History:

IRCTC has a history of consistent dividend declarations since its listing in October 2019. The previous dividend announcements by IRCTC are as follows:

● February 9, 2023: Interim Dividend of Rs 3.5 per share (Ex-date: February 22, 2023)
● May 30, 2022: Final Dividend of Rs 1.5 per share (Ex-date: August 18, 2022)
● February 8, 2022: Interim Dividend of Rs 2 per share (Ex-date: February 17, 2022)
● June 29, 2021: Final Dividend of Rs 5 per share (Ex-date: September 21, 2021)
● July 10, 2020: Final Dividend of Rs 2.5 per share (Ex-date: October 19, 2020)
● February 12, 2020: Interim Dividend of Rs 10 per share (Ex-date: February 24, 2020)

IRCTC's Q4FY23 Results:

IRCTC reported a strong net profit of Rs 278.79 crore for the quarter ending March 31, 2023. This reflects a significant growth of Rs 65.01 crore or 30.4% compared to the net profit of Rs 213.78 crore in Q4FY22. The revenue from operations also witnessed substantial growth, reaching Rs 965 crore, a 39.66% increase from Rs 690.96 crore in Q4FY22.

IRCTC's Q4FY23 results showcase impressive profit growth, indicating the company's continued success in the railway catering and tourism sector. The board's recommendation of a 100% dividend, along with the previous interim dividend, demonstrates IRCTC's commitment to rewarding its shareholders. With its consistent performance and shareholder- friendly approach, IRCTC remains a prominent player in the Indian market.