The shares of Mini Ratna company soared almost 4% on Monday after the company announced special offers to mark the occasion of 24th Foundation Day and World Tourism Day.
The shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC) closed at Rs 689, gaining around 4% as compared to the previous closing levels of Rs 663.45.
Such stock movements were observed after the company, in a BSE filing, announced that they will charge zero convenience fees on booking of flight tickets on the occasion of World Tourism Day.
The company announced a Special offer to mark the occasion of its 24th Foundation Day and World Tourism Day. The offer is pertaining to zero convenience fees on flight tickets through their website. Moreover, the company has also offered a discount of up to Rs 2000 on Card transactions of different banks. The above offer is valid from 25th September to 27th September 2023.
Having a glance at the financials, the company’s revenue has increased by 88.52% yearly, from Rs. 1878.57 crore in Q1FY23 to Rs 3541.47 crore in Q1FY24. During the same time, the company’s profit after tax (PAT) increased from Rs 659.55 crore to Rs 1005.88 crore.
Companies profitability ratios have also increased significantly such as the return of equity (ROE) has increased from 39.66 percent in FY 21-22 to 46.26 percent in FY 22-23. In addition, the return on capital employed (ROCE) increased from 53.9 percent to 63.01 percent in the same period.
IRCTC, is an Indian Railway subsidiary established by the ministry of railway to manage Indian railway catering, online ticketing and tourism operations.
Written by Vinit Israni
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. 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.