IRCTC gains on revising meal prices at railway stations

Indian Railway Catering and Tourism Corporation (IRCTC) rose 1.86% to Rs 880.55 after the Ministry of Railways revised tariff of standard meals on static units in railway stations.

In an exchange filing after market hours on Monday, 23 December 2019, the Indian Railways Catering and Tourism Corporation (IRCTC) said it sought clarification regarding applicability of the revised menu and tariff of standard meals on static units like refreshment rooms, Jan Ahaars etc.

According to the new system, veg breakfast will cost Rs 35, non-veg breakfast at Rs 45, standard veg meal at Rs 70, standard meal (egg curry) at Rs 80, standard meal (chicken curry) at Rs 120, veg Biryani (350 gm) at Rs 70, egg Biryani (350 gm) at Rs 80, chicken Biryani (350 gm) at Rs 100, and snack meal (350 gm) at Rs 50.

In a separate announcement on Monday, IRCTC said it signed a memorandum of understanding with Hotel and Restaurant Association of Northern India (HRANI) on 23 December 2019 for listing of HRANI member hotels and their room rate inventory for sales on IRCTC portal.

Last month, IRCTC hiked catering service fares on the Shatabadi, Rajdhani and Duronto class of trains.

IRCTC's net profit rose 14.01% to Rs 172.15 crore on 3.77% rise in net sales to Rs 972.61 crore in H1FY2020 over H1FY2019.

IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. IRCTC operates in four business segments, namely, internet ticketing, catering, packaged drinking water and travel & tourism.

Shares of IRCTC listed on the bourses on 14 October 2019. The stock debuted at Rs 644, a premium of 101.25% to the initial public offer (IPO) price of Rs 320.

The Government of India holds 87.40% stake in the company as on 30 September 2019.

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