IRCTC gains nearly 3%, company declares dividend; check how much shareholders will be paid

With the final dividend installment, the total payout for FY23 is Rs 5.5 per equity share of the face value of Rs 2.

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IRCTC shares rose on August 28, and were trading up 2.73 percent at Rs 676.20 at 2.25 pm on the NSE. The PSU railway company has announced a further dividend of Rs 2 per share for FY23.

With the final dividend installment, the total payout for FY23 is Rs 5.5 per equity share of the face value of Rs 2. IRCTC announced its dividend in its 24th Annual General Meeting held on August 26.

Seema Kumar, chairman and managing director, IRCTC, said at the AGM, “The post-pandemic scenario of global tourism is gradually converging to the pre-pandemic one. India’s tourism sector is showing signs of revival.” She further said that foreign tourist arrivals in India in FY23 have been growing month-on-month with the resumption of scheduled international flights and the easing of Covid-19 regulations.

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IRCTC’s next generation e-ticketing system is heading on a growth path by capturing 80.99 percent share of Indian Railways’ reserved tickets booked in FY23, said the company in an exchange filing dated August 26. IRCTC shares have given 5 percent returns since January 1 and lost 2 percent in the last one year.

IRCTC’s net profit fell 5 percent Year-on-Year (YoY) to Rs 232 crore in the April-to-June quarter. Revenue increased 19 percent YoY to Rs 1002 crore in the same period.

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