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Thursday, December 2, 2021

IRCTC Q3 Results: IRCTC’s net profit dropped 62% in October-December, revenue reduced due to COVID to Rs 245 crore

 

IRCTC Q3 Results: Indian Railways Catering and Tourism Corporation Limited (IRCTC) net profit fell 62 per cent in the October-December quarter (Q3) due to COVID 19. In the information given to the stock market, the company said that IRCTC’s profit after tax was recorded in the third quarter of FY 2020-21 was Rs 78 crore. The company had a net profit of Rs 205.80 crore in the same quarter last year.

According to IRCTC, the company’s total revenue fell to Rs 245.23 crore in the third quarter, from Rs 734.98 crore in the same period a year ago. In October-December, the expenses of IRCTC have reduced to Rs 140.74 crore. The company’s expenses in the same quarter a year ago were Rs 464.56 crore.

Reduction in operating income due to COVID 19

The information said that the decrease in operating income is mainly due to the COVID 19 epidemic. Proposals have been sent to the Railway Board to waive fixed commissions for various trains run by IRCTC which could not run till October 16, 2020 due to the epidemic. According to another news, IRCTC’s e-catering service is going to start again. IRCTC has received approval from the Railway Board to resume e-catering service at select stations.

Tejas Express: country’s first private train will run again from February 14, see timings and fares and book tickets here

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