Indian Railway Catering & Tourism Corporation (IRCTC) Q4 12/13 earnings summary

Executive summary

• FY2012-13 total income rose 29.88% YoY to ₹719.69 crore; PBT was ₹92.41 crore and net profit ₹58.84 crore.

• Tourism revenue nearly doubled to ₹188.71 crore, while net worth increased to ₹291.77 crore at March 31, 2013.

Financial highlights

• Total income increased from ₹554.11 crore in FY2011-12 to ₹719.69 crore in FY2012-13; gross profit rose to ₹92.41 crore from ₹76.54 crore.

• Net profit increased to ₹58.84 crore from ₹48.54 crore; EPS was ₹29.42 versus ₹24.27.

• Net worth reached ₹291.77 crore, up from ₹246.70 crore; paid-up share capital remained ₹20 crore.

• Internet ticket bookings reached 14.06 crore tickets, up from 11.61 crore; ticket value booked was ₹12,419 crore versus ₹9,646 crore.

Outlook and guidance

• Plans included commissioning over 50 food plaza/fast-food units in FY2013-14, targeting ₹5 crore in additional annual earnings; another 50 units were targeted for the following year.

• A 130-kiosk DMRC food rollout was planned; 61 kiosks were commissioned by July 31, 2013.

• Ambernath Rail Neer plant was expected to lift capacity from 4.12 lakh to 6.12 lakh bottles/day by end-2013; Bilaspur plant was targeted for completion by June 2014.

• Tourism priorities included corporate travel, inbound/outbound packages, pilgrimage trains and MICE events; government authorization for official and LTC air-ticketing was secured in July 2013.