IRCTC shares in focus ahead of Q1 results; here’s earnings preview

IRCTC shares in focus

IRCTC Q1 results preview: Prabhudas Liladher expects the state – run company to report 6.7 percent year on year rise in net profit at Rs 303.30 crore for the June quarter compared with Rs 284.10 crore in the same quarter last year.

Shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC), which offers ticketing, catering and tourism services, are in focus today ahead of the railway ticketing firm’s June quarter results. Prabhudas Lilladher expects the state run company to report 6.7 percent year on year rise in net profit at Rs 303.30 crore for the June quarter compared with Rs 284.10 crore in the same quarter last year.

Prabhudas Lilladher expects IRCTC’s online ticket booking figure to reach 11.6 crore, resulting in ticketing revenue of Rs 320 crore for the quarter. Catering revenue is expected to increase 7 percent YoY to Rs 510 crore. Tourism business is seen growing at 11 percent YoY. Overall, the brokerage expects IRCTC’s revenues to increase 11.2 percent YoY to Rs 1110 crore with Ebitda Margin of 35.3 percent. The brokerage maintained its Reduce rating with a target price of Rs 811 after assigning a multiple of 47.5 times over.

The domestic brokerage noted that the overall travel environment was sluggish during the June quarter amid severe heat wave and general elections inhibiting recreational spends. In hospitality all India average occupancy stood at 61-63 percent in April 2024, but declined to 59-61 percent in May 2024. Occupancy levels were lower by 100-200 bps YoY, indicating demand has taken a backseat.

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