Indian Railway Catering and Tourism Corporation is a wholly owned subsidiary of Indian Railways, Ministry of Railways, Government of India. It provides ticketing, catering, and tourism services for the Indian Railways.
As per the regulatory filing by LIC on BSE, the insurance giant has added 1,81,80,323 shares of the company taking its total holding to 5,82,22,948 Equity Shares from 4,00,42,625 shares. The holding of the company now stands at 7.278 percent, up from 5.005 percent in the previous quarter.
The shares of IRCTC closed marginally higher at Rs 642 levels on Tuesday. The stock has been on a downward trend as it has shed more than 4 percent in the past six months and on a yearly basis, it is down 22 percent.
Coming to the financials of the monopoly company, it reported a total revenue of Rs 918.06 Crore in Q3FY23, an increase of 70 percent Year on Year from Rs 540.21 Crore and 14 percent Quarter on Quarter from Rs 805.8 Crore.
In that period, their profit after tax was at Rs 255.53 Crore which increased 22 percent YoY from Rs 208.81 Crore and 13 percent QoQ from Rs 226.03 Crore.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. The shares of LIC declined by 2 percent and closed at Rs 597 levels.
Written by Anoushka Roy
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
