IRCTC Q1 Results: 7% YoY decline in profits to Rs 231 crore

Due to an exceptional loss and a reduced operating margin, the state-owned Indian Rail and Transport Corporation recorded a 7% YoY fall in profits to Rs 231 crore.

However, the company's operating revenue increased 17.5% to Rs 1,001.8 crore for the quarter ending in June 2023.

The railway corporation reported that income from the catering segment increased by 35% YoY to Rs 471 crore and that revenue from the internet ticketing business decreased by 4% YoY to Rs 290 crore. The tourist industry's revenue surged by 58% to Rs 130 crore. The EBITDA margin for the quarter was 34.2%, down from 37.6% for the same quarter the previous year. EBITDA also increased for the quarter by 6.9% to Rs 343 crore.

The Indian Rail and Transport Corporation, also known as IRCTC, was set up in 1999 with the aim to “upgrade, professionalize and manage the catering and hospitality services at stations, on trains, and other locations and to promote domestic and international tourism”.

Source: Media Reports