Indian Railway Catering And Tourism (BOM:542830) Operating Income : ₹14,030 Mil (TTM As of Dec. 2023)

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What is Indian Railway Catering And Tourism Operating Income?

Indian Railway Catering And Tourism's Operating Income for the three months ended in Dec. 2023 was ₹3,801 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was ₹14,030 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Indian Railway Catering And Tourism's Operating Income for the three months ended in Dec. 2023 was ₹3,801 Mil. Indian Railway Catering And Tourism's Revenue for the three months ended in Dec. 2023 was ₹11,183 Mil. Therefore, Indian Railway Catering And Tourism's Operating Margin % for the quarter that ended in Dec. 2023 was 33.99%.

Good Sign:

Indian Railway Catering And Tourism Corp Ltd operating margin is expanding. Margin expansion is usually a good sign.

Indian Railway Catering And Tourism's 5-Year average Growth Rate for Operating Margin % was 18.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Indian Railway Catering And Tourism's annualized ROC % for the quarter that ended in Dec. 2023 was 42.56%. Indian Railway Catering And Tourism's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 472.40%.

Indian Railway Catering And Tourism Operating Income Historical Data

The historical data trend for Indian Railway Catering And Tourism's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Indian Railway Catering And Tourism Operating Income Chart

Indian Railway Catering And Tourism Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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3,557.68

6,678.24

1,724.57

8,473.08

12,501.81

Indian Railway Catering And Tourism Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															3,154.33	3,410.79	3,292.98	3,525.57	3,800.66

Indian Railway Catering And Tourism Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹14,030 Mil.

Indian Railway Catering And Tourism (BOM:542830) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Indian Railway Catering And Tourism's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	15202.648 * ( 1 - 26.17% )	/	( (26372.09	+	0)	/ 1 )
=	11224.1150184	/	26372.09
=	42.56 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	55498.681	-	6817.309	-	( 22724.311	-	max(0, 24674.621	-	46983.903	+	22724.311	))
=	26372.09

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	0

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Indian Railway Catering And Tourism's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	16444.612	/	( ( (3481.064 + max(-234.923, 0))	+	(0 + max(0, 0)) )	/	1 )
=	16444.612	/	( ( 3481.064	+	0 )	/	1 )
=	16444.612	/	3481.064
=	472.40 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(13111.134	+	107.364	+	11041.094)	-	(6817.309	+	0	+	17677.206)
=	-234.923

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Indian Railway Catering And Tourism's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	3800.662	/	11183.022
	=	33.99 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Indian Railway Catering And Tourism Operating Income Related Terms

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Indian Railway Catering And Tourism (BOM:542830) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Indian Railway Catering And Tourism Corp Ltd (BOM:542830) » Definitions » Operating Income

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IRCTC:India

Address

Barakhamba Road, B-148, 11th Floor, Statesman House, New Delhi, IND, 110001

Website

https://www.irctc.com

Indian Railway Catering And Tourism Corp Ltd is engaged in catering and hospitality services at stations, on trains, and other locations and to promote domestic and international tourism through the development of budget hotels, special tour packages, information and commercial publicity, and global reservation systems. The company's core services include Catering and Hospitality, Internet Ticketing, Travel and Tourism, and Packaged Drinking Water. A vast majority of its revenues are derived from the Catering business.

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