IRCTC has received approval to resume e-catering service at select stations.
IRCTC, a subsidiary of the Indian Railways, fell 38 per cent in the net profit during the October-December 2020 quarter from the same period last year. During this period, the income of IRCTC decreased to Rs 245 crore.
- January 28, 2021, 11:29 PM IST
IRCTC’s earnings down to Rs 245 crore
IRCTC has told the stock market that it has made a profit of Rs 78 crore after taking out the tax in the third quarter of the financial year 2020-21. Explain that the company had a net profit of Rs 205.80 crore in the same period of FY 2019-20. The company said that in the third quarter the total earnings of the company decreased to Rs 245.23 crore, compared to Rs 734.98 crore in the same period last year. The company’s expenses declined to Rs 140.74 crore in October-December 2020 from Rs 464.56 crore in the same quarter last year.
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Indian Railway Catering and Tourism Corporation Limited said that the biggest reason for the decrease in operating income (income from operations) is the ban on running trains due to Corona crisis. A proposal has been sent to the Railway Board to give exemption in fixed commitments for those trains run by IRCTC, which could not run till 16 October 2020 due to the Corona Convention. At the same time, IRCTC is once again starting the e-catering service. The company has received approval from the Railway Board to resume e-catering service at some selected stations.