IRCTC Q4 Review - Result Miss; Reopening, June Bookings Suggest Fastened Recovery: Dolat Capital

Trains sit idle inside the empty Delhi Junction railway station during a lockdown imposed due to the coronavirus in Delhi. (Photographer: T. Narayan/Bloomberg).

IRCTC Q4 Review - Result Miss; Reopening, June Bookings Suggest Fastened Recovery: Dolat Capital

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Indian Railway Catering and Tourism Corporation Ltd. reported 51.0% QoQ growth (our estimate: 60.9%) led by 48.2% QoQ growth in internet ticketing vertical (62.5% of revenue).

Operating profit margin declined by 60 basis points QoQ to 37.3% (our estimate: 51.0%) led by improvement in internet ticketing margin at 81.9% (up 566 basis points QoQ) which was negated by higher loss in tourism segment (down 133% margin).

Announced dividend per share of Rs 5.

Ticketing revenue are now just short by 7% of peak run rate despite just 45% of trains being operational in Q4 FY21 led by strong contribution of second seater category booking and increased penetration 80% from 73% in FY20.

Click on the attachment to read the full report:

Dolat Capital IRCTC Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.