Indian Railways Catering and Tourism Corporation (IRCTC) Ltd. reported June quarter results on Tuesday and the stock recovered from the lows of the day.

Net profit for the quarter increased by 32.5% to ₹307.7 crore from ₹232 crore last year.

Revenue increased by 11.8% year-on-year to ₹1,120.2 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 9.3% to ₹375 crore but margins narrowed to 33.5% from 34.2% from last year.

IRCTC’s catering business, which is the biggest among the four businesses for the state-run operator, increased to ₹558 crore from ₹477 crore last year. The number was also higher than the ₹530 crore number it reported during the March quarter.

Internet Ticketing, the second-largest business, saw revenue increase to ₹329 crore from ₹290 crore last year. However, the revenue declined marginally from the ₹342 crore figure it had reported in the March quarter.

While catering contributed nearly half of IRCTC’s quarterly revenue, nearly 30% of the topline came from the ticketing business.

Revenue for the Rail Neer business increase both year-on-year as well as on a sequential basis, while the tourism business revenue declined both from last year and nearly halved when compared to the March quarter, falling to ₹124 crore from ₹201 crore in March and ₹142 crore in the year-ago quarter.

Shares of IRCTC ended 0.69% lower at ₹918 on Tuesday. The stock has underperformed its peers so far this year, rising only 2% so far.