- IRCTC Ltd’s shares hit a 52-week high of some 1976 on the BSE, giving its IPO investors a whopping 500 percent return after listing on the stock exchanges.
- After IRCTC Ltd was listed on the stock exchanges at € 644 on 14 October 2019, investors have been bullish, a premium of 101.25 percent to the IPO price of € 320.
On Thursday, IRCTC Ltd’s shares hit a 52-week high of some 1976 on the BSE, giving its IPO investors a whopping 500 percent return after listing on the stock exchanges.
The stock ended at around 1927.75 cents, up 5.30 percent from its previous BSE close, while the Sensex index lost 0.37 percent to 41.170.12 percentage points.
After IRCTC Ltd was listed on the stock exchanges at € 644 on 14 October 2019, investors have been bullish, a premium of 101.25 percent to the IPO price of € 320.
On a standalone basis, IRCTC’s net profit in a year-ago period jumped 179.6 percent to some € 205.80 crores in the third quarter compared to some € 73.60. Net sales in the October-December period rose 64.6 percent to approximately 715.98 crores from approximately 4435.01 in the same period a year ago.
In the quarter ended 31 December, revenue from the Internet ticketing segment rose 310.16 percent to some $226.90 crores. During the period under review, revenue from the catering segment increased by 8.23 percent to some[ 2269.20] crores. In Q3 FY20, revenue from state-owned business division Teertha spurred 862.32 percent of YoY to about $66.40. During the period mentioned, revenue from tourism business rose 14.63 percent to some 94.86 crores.
In Q3 December 2019, revenue from the Rail Neer business segment rose 41.89 percent YoY to 58.60 crores.
Today IRCTC began Kashi Mahakal Express commercial operations. The train will run between Varanasi and Indore and will connect three holy places-Jyotirlinga-Omkareshwar (near Indore in Madhya Pradesh), Mahakaleshwar (Ujjain in Madhya Pradesh) and Kashi Vishwanath (Varanasi in Uttar Pradesh).
‘In view of the reintroduction of service charges (Rs15/Rs30 per ticket for non-AC/AC) from 1 September 2019, capacity expansion in Rail Neer (the goal is to increase the number of plants by FY21E to 20) and an average increase of 70%/61% in the mobile/static catering tariff, respectively, we expect sales/PAT to increase by 24.5%/54.7% compared to FY19-22E.
A solid balance sheet with a cash balance of Rs11600 crore as of December, good return ratios & dividend pay-out gives us additional comfort,” said Prabhudas Lilladhar’s recent research report. The company also announced an interim dividend of Rs11600 per share and set a record date of February 25, 2020.
