Indian Railway Catering and Tourism Corporation (IRCTC) has recently announced its first quarter results. The company’s net profit has increased by 32.75% to Rs 308 crore compared to the same quarter last year. At the same time, the company’s total income has also increased by 11.88% to more than Rs 1,000 crore.
Shri Sunil Kumar Lalla, Chairman and Managing Director, IRCTC said, “The Company has posted strong performance across all its businesses. Our Travel & Tourism Services, Catering Services and IT Services have all performed excellently.”
The company has recently declared an interim dividend of Rs 4 per share to its investors. This is good news for the shareholders of the company.
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IRCTC performance
IRCTC’s financial results show that the company’s performance has been much better in the last one year. The company has given a return of 41% to its shareholders.
Strong growth has been witnessed across all the business segments of the company. The company’s revenue from travel and tourism services has grown by 33%. Revenue from catering services has grown by 21% and IT services by 13%.
IRCTC plans
IRCTC is taking many new initiatives to further strengthen its business. The company has recently started a new initiative for devotees. Under this, devotees can visit 7 Jyotirlingas on a monthly installment of Rs 919.
Apart from this, the company has also started Delhi-Meerut Rapid Rail service. In this train, passengers will get the facility of fare of Rs 50, speed of 140 km per hour and premium coach.
Prospects for the future
IRCTC has the potential to perform even better in the future. The company has recently received new contracts worth Rs 35,000 crore from the Railways. This is expected to further increase the company’s income.
Apart from this, Indian Railways has earned Rs 14,798 crore in June without selling a single ticket. This will also benefit IRCTC as the company provides catering and tourism services to the railways.
IRCTC’s performance has improved significantly in the last one year. The company’s net profit has increased by 32.75% to Rs 308 crore. The company has given a return of 41% to its shareholders. The company is taking many new initiatives to further strengthen its business. IRCTC’s performance is expected to improve further in the future.