Indian Railway Catering and Tourism Corporation Limited (IRCTC) shares rose 13.4 per cent to Rs 1609.30 a piece, hitting a 52-week high on the BSE, as the profit trebled of the company in the December quarter.
At 11:53 am, shares of IRCTC Ltd were up 11 per cent at 1574.45 apiece, while the benchmark Sensex was 0.45 per cent lower at 41,379.72 points.
IRCTC’s profit after tax from continuing operations for the quarter ended 31 December nearly trebled to Rs 206 crore from Rs 73.6 crore in the year-ago period. IRCTC reported a net profit of Rs 99.82 crore in the quarter ended 30 September. Revenue from operations rose to Rs 716 crore compared with Rs 435 crore in December 2018. IRCTC’s profit from internet ticketing jumped over 400 per cent to Rs 193.36 crore in Q3FY20 from Rs 36.15 crore in the same quarter a year ago. Profit from the tourism segment though declined 28 per cent year-on-year to Rs 8.37 crore. Also, the company also declared an interim dividend of Rs 10 per share, which is 100per cent of the paid-up share capital.