Indian Railway Catering

Indian Railway Catering & Tourism Corporation Q3 results

Indian Railway Catering & Tourism Corporation Q3 results

The shares of Indian Railway Catering & Tourism Corporation (IRCTC) have zoomed past 1,600-mark in early trade on Thursday. Besides, it has reported strong Q3 numbers. 

Also, the PSU major has posted a year-on-year growth of 62% at Rs 734.98 crores for the quarter ended Dec 2019. So then, its net profit has increased by 2.8 times to Rs 205.8 crores. While EBITDA increased by 2.7 times to Rs 265.7 crores. Hence, the margin stood at 37.1% versus 22.7%. 

Besides, there seems no stopping the bull run in the IRCTC stock ever since it came listed in Oct 2019. Also, on Thursday, the IRCTC stock has registered another high value at Rs 1,609.30 on the Bombay Stock Exchange. Yet, presently, it seems to rule slightly lower at Rs 1,574, a gain of 11%, over the previous close on the BSE. 

Despite this, the stock had a stellar start on Oct 14, after its successful IPO. Significantly, the IPO witnessed 112 subscriptions. So then, this came up as the biggest response to a public issue of any PSU as of yet. However, as against the issue price of Rs 320, the IRCTC stock debuted at Rs 644 on the BSE. Also, it has seen a huge closing amount with Rs 729 on the Day one of listing.  

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