Indian Railway Catering & Tourism Corporation (IRCTC) Q1 24/25 earnings summary

Executive summary

• Achieved all-time high Q1 FY25 profit of INR 308 crore, up 8.2% quarter-over-quarter and 32.5% year-over-year, driven by strong catering and railway segments.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, were approved and released following audit committee review.

• Auditor's review reports for both standalone and consolidated results expressed unmodified conclusions, with emphasis of matter on several ongoing legal and regulatory issues.

• Upgraded from Schedule B to Schedule A by the Government of India, paving the way for Navratna status.

Financial highlights

• Q1 FY25 profit reached INR 308 crore, up 8.2% sequentially and 32.5% year-over-year.

• Standalone revenue from operations for Q1 FY25 was ₹112,015 lakh, up from ₹100,179 lakh in Q1 FY24.

• EBITDA for the quarter was INR 375 crore, up 9.32% year-over-year and 3.38% quarter-over-quarter.

• EBITDA margin improved to 33.47% from 31.41% sequentially, stable year-over-year.

• Basic and diluted EPS for Q1 FY25 stood at ₹3.85, up from ₹2.90 in Q1 FY24.

Outlook and guidance

• Management targets to maintain or exceed 17.3% revenue CAGR and 21% net profit CAGR, based on five-year trends.

• Plans to continue capacity expansion in Rail Neer and explore new plants in Mysore, Varanasi, and Vijayawada.

• No explicit forward-looking guidance provided, but ongoing legal and regulatory matters may impact future results.