Shares of the renowned Mini Ratna company, Indian Railway Catering and Tourism Corporation Ltd (IRCTC), experienced a remarkable 4% surge in value on Monday. This impressive boost came shortly after the company unveiled a set of enticing special offers to commemorate its 24th Foundation Day and World Tourism Day.
Closing at Rs 689, IRCTC’s stock demonstrated a substantial gain when compared to its previous closing price of Rs 663.45. The surge in stock price followed the company’s announcement, made via a filing on the Bombay Stock Exchange (BSE), declaring a temporary waiver of convenience fees for flight ticket bookings in celebration of World Tourism Day.
In a bid to make this occasion truly memorable, IRCTC has introduced a special promotional offer, allowing travelers to book flight tickets through their website without incurring any convenience fees. Furthermore, the company has extended its generosity by offering a discount of up to Rs 2000 on card transactions from various banks. This limited-time offer is valid from September 25th to September 27th, 2023.
Taking a closer look at the company’s financial performance, it is evident that IRCTC has been on a robust growth trajectory. Notably, its revenue has experienced a substantial annual increase of 88.52%, rising from Rs 1878.57 crore in Q1FY23 to Rs 3541.47 crore in Q1FY24. Simultaneously, the company’s profit after tax (PAT) has surged from Rs 659.55 crore to an impressive Rs 1005.88 crore during the same period.
IRCTC’s profitability ratios have also witnessed significant improvements, underscoring its financial strength and efficiency. The return on equity (ROE) has climbed from 39.66% in FY 21-22 to an even more impressive 46.26% in FY 22-23. Additionally, the return on capital employed (ROCE) has shown remarkable growth, surging from 53.9% to an impressive 63.01% over the same period.
For those unfamiliar with IRCTC, it is a subsidiary of the Indian Railways, established by the Ministry of Railways to oversee various critical functions, including Indian railway catering, online ticketing services, and tourism operations. IRCTC’s commitment to providing top-notch services and its impressive financial performance have made it a noteworthy player in India’s corporate landscape.
As the company continues to thrive and offer exciting incentives to travelers, its stock performance remains closely watched by investors and market enthusiasts alike. The recent surge in IRCTC’s stock value reflects the positive sentiment surrounding the company’s growth prospects and its dedication to enhancing the travel experience for millions of Indians. IRCTC’s special offers for World Tourism Day not only benefit travelers but also contribute to its reputation as a customer-centric and forward-thinking organization in the travel and tourism sector.
In conclusion, IRCTC’s stock witnessed a remarkable 4% jump in response to the company’s special offers announced in celebration of its 24th Foundation Day and World Tourism Day. These offers, including the waiver of convenience fees on flight ticket bookings and discounts on card transactions, have garnered significant attention and appreciation from travelers and investors alike. As IRCTC continues to excel both financially and in customer satisfaction, it solidifies its position as a prominent player in India’s travel and tourism industry.
