The Indian Railways Catering and Tourism Corporation (IRCTC) has reported a Rs 87.22 crore total comprehensive income for the first quarter of financial year 2021-22. The company had reported a loss of Rs 25.23 crore in the same quarter of the financial year 2020-21.
The IRCTC Board also approved a stock split on Thursday, under which each share of Rs 10 face value will be subdivided into 5 shares of Rs 2 each. IRCTC said that this is being done to enhance the liquidity in the capital market, to widen shareholder base and to make the shares affordable to small investors.
Total revenue during the period under review stood at Rs 257.94 crore, up from Rs 156.49 crore in the comparable quarter of previous financial year.
While IRCTC’s catering revenue declined, internet ticketing, tourism, and Rail Neer revenue reported an increase. Revenue from catering stood at Rs 56.72 crore, Rail Neer stood at Rs 29.26 crore, internet ticketing at Rs 149.97 crore while tourism stood at 7.41 crore. The catering and tourism businesses continued to make losses.
Profit from Internet ticketing rose from Rs 9.16 crore during the quarter ended June 2020 to Rs 116.87 crore in quarter ended June 2021.
IRCTC’s auditor P R Mehra and Co drew attention to the representation made to the Railway Board for waiver of fixed haulage and custody charges for non-operational period of three trains amounting to Rs 27.93 crore till March 31, 2021. The auditor pointed out that a response from the Rail Ministry is still awaited but IRCTC has made provision for the amount in the books of account as on March 31, 2021.