IRCTC share price fell more than 2 per cent after opening in green on BSE on Tuesday, despite a 105.7 per cent jump in net profit at Rs 213.78 crore for the quarter ending 31 March, 2022. The company also announced a dividend of Rs 1.5 per share of face value of Rs 2 each for the financial year 2021-2022, subject to the approval of shareholders in the upcoming Annual General Meeting (AGM). This final dividend is in addition to the interim dividend of Rs 2 per share. Analysts say despite strong Q4FY22 earnings where both revenue and profits have beaten estimates, the market seems to have already factored in the good results.

“Technically, till IRCTC stock doesn’t close above 711, trend could remain sideways to even negative. Strong support can be seen at 662,” AR Ramachandran, Co-founder & Trainer, Tips2Trades, told FinancialExpress.com.

IRCTC stock price has fallen 14 per cent in the last six months, and 19.2 per cent so far in the year 2022. The company said its revenue from internet ticketing stood at Rs 292.82 crore, compared to Rs 212.01 crore. From catering, its revenue jumped about four fold to Rs 266.19 crore against Rs 67.38 crore in the same quarter year ago. Revenue from Rail Neer came in at 51.88 crore, up from Rs 27.80 crore.

Technical analysts said that this Indian Railways company (IRCTC) has been trading with the corrective bias since October 2021. After the sharp dip in the early phase, it is witnessing a gradual decline. “It’s currently hovering around the resistance zone of the long term moving average(200 EMA) on the daily chart. A break above 750 could fuel a sustained recovery else sideways move would continue,” Ajit Mishra, VP – Research, Religare Broking, told FinancialExpress.com. 

Indian Railway Catering and Tourism Corporation said that the business activities of the company are gradually coming on track in line with the lifting of restrictions as were imposed by the State and Central Governments. IRCTC’s EBITDA stood at Rs 303.14 crore in March 2022 up 84.22 per cent from Rs 164.55 crore in March 2021. Its EPS fell to Rs 2.67 in March 2022 from Rs 6.49 in March 2021.

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