The Indian Railway Catering and Tourism Corporation (IRCTC), on Tuesday, reported a net profit of ₹208.81 crore in the third quarter of 2021-22. This is a sharp increase of almost 167 per cent, compared to the figure of corresponding quarter in 2020-21, which was about ₹78.08 crore. In the second quarter of 2021-22, the catering arm of the Railways had posted a profit of ₹ 158.57 crore.
The increase in both the revenues and the profit is mainly from internet ticketing. IRCTC’s revenue from operations for the quarter under review is ₹540.21 crore, which is an increase of about 141 per cent, compared to ₹ 224.37 crore posted in the corresponding period of last fiscal, according to a filing of the company at the Bombay Stock Exchange. The total revenue for the period was ₹ 556.51 crore and in September 2021 quarter it was ₹ 421.05 crore. Meanwhile, the Board of Directors have declared an interim dividend of ₹2 per share.
The profit from internet ticketing was ₹265.18 crore and profit from catering was ₹ 5.72 crore. In the corresponding period in last fiscal the amount was ₹109.05 crore and loss of ₹7.94 crore. IRCTC said in a statement that the outbreak of Coronavirus pandemic globally and in India is causing significant disturbance and slowdown of economic activity. “However, the business activities of the company are going gradually on track in line with the lifting of restrictions as were imposed by the State and Central governments,” said IRCTC.