{"id":158865,"date":"2024-02-15T12:36:04","date_gmt":"2024-02-15T17:36:04","guid":{"rendered":"https:\/\/44.250.171.167\/?p=158865"},"modified":"2024-02-15T12:36:06","modified_gmt":"2024-02-15T17:36:06","slug":"indian-railway-catering-and-tourism-corp-ltd-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/indian-railway-catering-and-tourism-corp-ltd-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"Indian Railway Catering and Tourism Corp. Ltd Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Indian Railway Catering and Tourism Corp. Ltd (IRCTC) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Revenue Growth<\/strong>\n<ul>\n<li>Q3 revenue reached highest ever at INR 1,118 crores, up 21.8% YoY and 12.4% QoQ.<\/li>\n<li>Catering revenue grew 29.1% YoY to INR 508 crores.<\/li>\n<li>Internet ticketing revenue grew 11.4% YoY to INR 335 crores.<\/li>\n<li>Tourism revenue grew 32.28% YoY and 21.11% QoQ to INR 195 crores.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Profitability<\/strong>\n<ul>\n<li>Q3 net profit highest ever at INR 300 crores, up 17.4% YoY.<\/li>\n<li>Catering EBITDA margin improved to 15.44% from 10.73% YoY.<\/li>\n<li>Internet ticketing EBITDA margin stable at 83.7%.<\/li>\n<li>Tourism turned EBITDA positive at 12.10%.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Catering Business Growth Drivers<\/strong>\n<ul>\n<li>Introduction of 41 Vande Bharat trains.<\/li>\n<li>Catering contracts increased from 1200 to 1518.<\/li>\n<li>Higher FTR coaches boosting revenue.<\/li>\n<li>Foray into non-railway catering with 8 NRC projects.<\/li>\n<li>Tie-up with food aggregators like Zomato.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Growth Outlook<\/strong>\n<ul>\n<li>Railway infrastructure growth positive for all business verticals.<\/li>\n<li>Catering business has headroom with passenger and train growth.<\/li>\n<li>20 lakh meals served daily vs 2 crore daily passengers.<\/li>\n<li>Scope for exponential growth in meals.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Ticketing Volumes<\/strong>\n<ul>\n<li>550 million AC class tickets.<\/li>\n<li>456 million non-AC tickets.<\/li>\n<li>140 million current booking tickets.<\/li>\n<li>Convenience fees at INR 219 crores.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Catering Business Update<\/strong>\n<ul>\n<li>Catering services expense of INR 349 crores.<\/li>\n<li>Includes reimbursements and railway revenue share.<\/li>\n<li>Currently 1,518 short term contracts of ~6 months.<\/li>\n<li>New policy enables 5+2 years contracts.<\/li>\n<li>Cluster-based approach in 5 phases.<\/li>\n<\/ul>\n<\/li>\n<li><strong>New Policy Implementation<\/strong>\n<ul>\n<li>Floating tenders aggressively under new policy.<\/li>\n<li>Will cover all 1,200 trains currently operated.<\/li>\n<li>Aiming for long-term 5+2 years contracts.<\/li>\n<li>Entire train base to move to new catering policy.<\/li>\n<li>New trains to be added on existing base.<\/li>\n<\/ul>\n<\/li>\n<li><strong>UPI Promotion Incentives<\/strong>\n<ul>\n<li>Part of government promotion directive.<\/li>\n<li>IRCTC taking lead with large incentives.<\/li>\n<li>Helps drive digital payments adoption.<\/li>\n<li>Highest ever revenue this quarter despite incentives.<\/li>\n<li>Timeline for continuing incentives unclear.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tourism Business Growth<\/strong>\n<ul>\n<li>Key offering is rail-based tourism.<\/li>\n<li>Operating 10+1 Bharat Gaurav trains.<\/li>\n<li>Signed MoU with Uttarakhand government.<\/li>\n<li>Talks ongoing with other states like Maharashtra.<\/li>\n<li>MoUs open big revenue opportunity from state partnerships<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Indian Railway Catering and Tourism Corp. Ltd (IRCTC) Q3 FY24 Earnings Concall Revenue Growth Q3 revenue reached highest ever at INR 1,118 crores, up 21.8% YoY and 12.4% QoQ. Catering revenue grew 29.1% YoY to INR 508 crores. Internet ticketing revenue grew 11.4% YoY to INR 335 crores. Tourism revenue grew 32.28% [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,12],"tags":[10169,10172],"class_list":["post-158865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-other-industries","tag-earnings","tag-railways"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":142774,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-irctc-limited-for-q3-fy23\/","url_meta":{"origin":158865,"position":0},"title":"Earnings Summary Of IRCTC Limited For Q3 FY23","author":"Hardik Bhandare","date":"February 24, 2023","format":false,"excerpt":"IRCTC, or Indian Railway Catering and Tourism Corporation (NSE: IRCTC), is a subsidiary of Indian Railways that manages the online ticketing, catering, and tourism operations of the Indian Railways. IRCTC was incorporated in 1999 and is headquartered in New Delhi, India. IRCTC has a strong presence in the catering industry,\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160919,"url":"https:\/\/alphastreet.com\/india\/cg-power-and-industrial-solutions-ltd-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":158865,"position":1},"title":"CG Power and Industrial Solutions Ltd Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"May 7, 2024","format":false,"excerpt":"Key highlights from CG Power and Industrial Solutions Ltd (CROMPGREAV) Q4 FY24 Earnings Concall Financial Performance Q4 FY24 sales grew 17% YoY, PBT grew 25% YoY. FY24 sales grew 16% YoY, PBT grew 24% YoY. Margins improved due to higher realizations, favorable product mix, and cost efficiencies. ROCE for FY24\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":161197,"url":"https:\/\/alphastreet.com\/india\/apar-industries-limited-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":158865,"position":2},"title":"Apar Industries Limited Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"May 15, 2024","format":false,"excerpt":"Key highlights from Apar Industries Limited (APARINDS) Q4 FY24 Earnings Concall Financial Performance Q4 FY24 consolidated revenue grew 9% YoY to INR 4,455 crores. 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Q4 FY24 total income: INR 21.6 crores. FY24 revenue from operations: INR 82.8 crores (6% YoY growth). FY24 total income: INR 87 crores (7.2% YoY growth). Q4 FY24 EBITDA: INR\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":158624,"url":"https:\/\/alphastreet.com\/india\/pondy-oxides-and-chemicals-ltd-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":158865,"position":5},"title":"Pondy Oxides and Chemicals Ltd Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"February 9, 2024","format":false,"excerpt":"Key highlights from Pondy Oxides and Chemicals Ltd (POCL) Q3 FY24 Earnings Concall Financial Performance Revenue of INR 454 crores, up 16% YoY and 12% QoQ. 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