IRCTC Announces Quarterly Results (1QFY22); Net Profit Up 435.4%

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IRCTC Announces Quarterly Results (1QFY22); Net Profit Up 435.4%
Mon, 16 Aug

IRCTC has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

IRCTC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m1,3133,3882,434-28.2%85.3%
Other incomeRs m251195146-25.1%-42.1%
TurnoverRs m1,5653,5832,579-28.0%64.8%
ExpensesRs m1,7521,9371,319-31.9%-24.7%
Gross profitRs m-4381,4221,115-21.6%
DepreciationRs m90187112-40.1%24.8%
InterestRs m1737381.0%124.7%
Profit before taxRs m-2941,3921,111-20.2%
TaxRs m-48354286-19.4%
Profit after taxRs m-2461,038825-20.5%
Gross profit margin%-33.442.045.8
Effective tax rate%16.325.425.7
Net profit margin%-15.729.032.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 85.3% on a year-on-year (YoY) basis. The expenses were down by 24.7% YoY during the same period.
  • The company's operating profit declined by 354.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 45.8% in 1QFY22 as against 33.4% in 1QFY21.
  • Depreciation charges increased by 24.8% and finance costs increased by 124.7% YoY, respectively.
  • Other income declined by 42.1% YoY during the quarter.
  • Net profit for the quarter increased by 435.4% YoY. Net profit margins during the quarter increased from -15.7% in 1QFY21 to 32.0% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 28.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 31.9% QoQ during the same period.
  • The company's operating profit declined by 21.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 45.8% in 1QFY22 as against 42.0% in 4QFY21.
  • Net profit for the quarter declined by 20.5% QoQ, while net profit margins increased from 29.0% in 4QFY21 to 32.0% in 1QFY22.

To see how IRCTC has performed over the last eight quarters,please visit here.

Revealing this Monday: A Potentially Life-Changing Opportunity

IRCTC Share Price Performance

Over the last one year, IRCTC share price has moved up from Rs 1,368.2 to Rs 2,631.0, registering a Gain of Rs 1,262.9 or around 92.3%.

Overall, the S&P BSE SENSEX is up 44.8% over the year.

Current Valuations

At the current price of Rs 2,631.0, the price to earnings (P/E) ratio of IRCTC stands at 141.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 31.7 times.

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