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IRCTC net profit dips five per cent

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The Indian Railways Catering and Tourism Corporation (IRCTC), the online rail ticket booking service provider, reported a five per cent-odd drop in profit after tax to ₹232 crore for the period ending June 30, 2023. The PAT in the corresponding period last year stood at ₹246 crore.

Interestingly, the company saw its revenue rise to ₹1,001 crore, up 17 per cent y-o-y.

As per its statement to the bourses, IRCTC saw revenue from the internet ticketing business dip by 4 per cent-odd on a y-o-y basis to ₹290 crore in the April to June quarter. Revenue from the segment was ₹302 crore, in the year-ago-period.

Revenue from the tourism business rose 59 percent to ₹130 crore in the June quarter, up from ₹82 crore in the corresponding period last year.

Segments like catering and Rail Neer (its bottled water business) saw increase in revenues to the tune of 35 per cent to ₹477 crore and 10 per cent to ₹96 crore, respectively, for the quarter under review,. The State Teertha revenues dropped by 64 per cent to ₹12 crore.

All segments, barring tourism, reported profit before tax. In case of the tourism vertical, losses were at ₹40 crore.

In a separate notification, the company said, it appointed NK Bhargava & Co, chartered accountants ,as internal auditor for FY24 and FY25.





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