IRCTC Share Price Falls Despite Strong Q4 Results
Key points:
- IRCTC shares witness sell off pressure despite strong Q4 results in 2023.
- IRCTC is the only authorized company for railway catering and tourism in India.
- The company reported a net profit of Rs 150.6 crore in Q4 2023.
- IRCTC’s revenue from e-ticketing stood at Rs 1738.1 crore in Q4 2023.
The Reason behind the Dip:
Despite reporting strong Q4 results, IRCTC share price fell on Tuesday. The reason behind the drop in share price is yet to be ascertained. However, market experts believe that the sell-off pressure could be due to profit-booking by investors who had earlier invested in IRCTC shares.
IRCTC’s Dominance:
IRCTC is the only authorised company for railway catering and tourism in India. The company has a monopoly in providing catering services to Indian Railways and has been expanding its business portfolio by entering into the hospitality and tourism sector. IRCTC’s revenue from e-ticketing is also on the rise and stood at Rs 1738.1 crore in Q4 2023, showcasing the company’s increasing dominance in the e-ticketing space.
Author’s Hot Take:
Investors shouldn’t be deterred by the temporary dip in IRCTC’s share price. Strong Q4 results and the company’s monopoly in the railway catering and tourism sector make it a safe bet for long-term investors. With IRCTC’s expansion into the hospitality and tourism sectors, we can expect the company’s shares to only get more valuable in the future.
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Original article:https://trends.google.com/trends/trendingsearches/daily?geo=IN#IRCTC%20share%20price