Indian Railway Catering & Tourism Corporation (IRCTC) Q4 11/12 earnings summary

Executive summary

• FY2011-12 total income fell to ₹554.11 crore from ₹764.93 crore, mainly after licensee catering transferred to Railways; tourism and internet ticketing grew.

• Net profit was ₹48.54 crore versus ₹60.79 crore; net worth rose to ₹246.70 crore from ₹211.41 crore.

• Most FY2011-12 physical and financial MoU targets were achieved at the “Excellent” level.

Financial highlights

• Total income ₹554.11 crore vs ₹764.93 crore; profit before tax ₹76.54 crore vs ₹129.79 crore.

• Net profit ₹48.54 crore vs ₹60.79 crore; revenue from operations, gross, ₹449.59 crore vs ₹514.99 crore.

• Cash from operating activities ₹23.23 crore vs ₹61.03 crore; closing cash and cash equivalents ₹240.04 crore vs ₹246.11 crore.

Outlook and guidance

• FY2012-13 central-kitchen turnover expected at ₹10 crore; first-phase capacity 10,000 meals/day, expandable to 25,000.

• Plans included expanding internet-ticketing capacity and value-added services, new tourism packages, non-Railway catering, and Rail Neer plants at multiple locations.

• Rail Neer capacity planned to rise from 3.8 lakh bottles/day to 5.8 lakh by end-2013, including the Ambernath plant.