IRCTC shares flat ahead of Q3 earnings; here's what to expect

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IRCTC shares flat ahead of Q3 earnings; here's what to expect

Indian Railway Catering and Tourism Corporation Ltd. IRCTC's shares were trading flat in early trade ahead of the state-owned firm's Q 3 earnings set to be announced today. The large cap stock fell by 0.05% to Rs 640.75 against the previous close of Rs 641.05 on the BSE. The stock hit a 52 week high of Rs 868.10 on February 9, 2022 and a 52 week low of Rs 557 on July 6, 2022. The stock fell after three days of gain.

The IRCTC share is higher than the 5 day and 20 day moving averages but is less than 50 day, 100 day and 200 day moving averages.

The stock has gained 0.2 per cent since the beginning of this year and risen 24.56 per cent in a single year. The firm's market cap was 51,200 crore. Total of 8282 shares with turnover of 52.96 lakh changed hands on the BSE.

The profit is expected to increase 17.1 per cent to Rs 244.50 crore from Rs 208.80 crore YoY. The base effect and continued traction in the non-convenience income catering business is expected to cause revenue to go up, Prabhudas Lilladher said. IRCTC is likely to have ticketing volumes of 9.8 crore in the December quarter compared with 11.6 crore in June quarter and 10.7 crore in September. The brokerage said that the tourism business of IRCTC is expected to see a rebound due to seasonality.

The total non-suburban PRS traffic stood at 15.97 crore, excluding 11 days of December. Assuming in the 3 rd bucket period of December, passenger traffic settles at 1.76 crore, similar to bucket- 2, collective passenger traffic for the quarter would stand at 17.7 crore, said Prabhudas Lilladher.

We expect online bookings of 9.8 crore in 3 QFY 23 due to the 1.7 1.8 times passenger travel per e-ticket. It expects IRCTC's revenues to increase 62.7 per cent YoY to Rs 879.10 crore with an Ebitda margin of 36.2 per cent.

Revenues from operations increased by 99% to 805.80 crore in Q 2 FY 23 from Rs 404.93 crore in Q 2 FY 22. Total expenses rose 152.84% to Rs 524.33 crore in the quarter under review, from Rs 207.37 crore in Q 2 FY 22.