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IRCTC share nears all-time high ahead of Q4 earnings

IRCTC share nears all-time high ahead of Q4 earnings

IRCTC stock touched an intraday high of Rs 2125.65, climbing 2.3% against previous close of Rs 2077.80 on BSE

IRCTC share approaches all-time high IRCTC share approaches all-time high

IRCTC share approached its all-time high level ahead of the state-owned Q4 and fiscal earnings set to be announced today. The large cap stock touched an intraday high of Rs 2125.65, climbing 2.3% against previous close of Rs 2077.80 on BSE. The stock hit all-time high of Rs 2,184 on June 8, 2021 and 52- week low of Rs 1291 on November 4, 2020.

Stock of IRCTC has gained 1.65% in two sessions. IRCTC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 45.66% since the beginning of this year and risen 54.44% in one year.

Market cap of the firm rose to Rs 33,526 crore.

Total 1.14 lakh shares amounting to turnover of Rs 24.09 crore changed hands on BSE.

In Q3 of previous fiscal, IRCTC's earnings were affected by the COVID-19 pandemic.
The firm reported a 62 per cent fall in its profit after tax for the quarter ended in December to Rs 78 crore against profit of Rs 205.80 crore for the corresponding quarter a year-ago.

Total revenue nosedived to Rs 245.23 crore in Q3 against Rs 734.98 crore revenue in the year-ago period.

Total expenses fell to Rs 140.74 crore in December quarter from Rs 464.56 crore in the year-ago period.

"The reduction in operating turnover is mainly due to COVID-19 pandemic …representations have been made to railway board for waiver of fixed commitments against various trains run by the company which could not be operated for the period up to October 16, 2020 during present pandemic, for which approval is awaited," the firm said.

IRCTC is the only entity authorised by Indian Railways to provide catering services, online railway tickets and packaged drinking water at railway stations and trains in India.