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NEW DELHI: IRCTC on Friday reported a net loss of Rs 24.60 crore in the quarter ended June 2020 against profit of Rs 72.33 crore a year ago, hurt by Covid-19-induced lockdown.
During the quarter, train operations came to a virtual standstill with the government allowing just a few trains to run that too in later stages of lockdown. The action heavily affected the company's earnings.
Revenue from operations for the railway ticketmaster plunged 71.40 per cent to Rs 131.33 crore from Rs 459.23 crore a year ago.
“The company does not foresee any adverse impact on the supply chains as and when the business is resumed wherever the operations were curtailed or have remained suspended on account of present pandemic,” IRCTC said.
All segments of its business were impacted during the quarter. The biggest impact was seen in the tourism segment where the revenue plunged to Rs 2.95 crore from 47.62 crore from the year ago period.
Revenue from catering came down to Rs 89.89 crore from Rs 271.95 crore, from internet ticketing Rs 35.22 crore from Rs 82.07 crore and from rail neer Rs 3.25 crore from Rs 57.58 crore in the corresponding quarter last fiscal.
The company has made representation for waiver of commitment charges (haulage or/and custody) for operation of trains to the Railways and KTDC due to inability to carry out operations Management is confident that it is likely to get the waiver and hence treating the present quarter as Zero Period and has made no provision.
During the quarter, train operations came to a virtual standstill with the government allowing just a few trains to run that too in later stages of lockdown. The action heavily affected the company's earnings.
Revenue from operations for the railway ticketmaster plunged 71.40 per cent to Rs 131.33 crore from Rs 459.23 crore a year ago.
“The company does not foresee any adverse impact on the supply chains as and when the business is resumed wherever the operations were curtailed or have remained suspended on account of present pandemic,” IRCTC said.
All segments of its business were impacted during the quarter. The biggest impact was seen in the tourism segment where the revenue plunged to Rs 2.95 crore from 47.62 crore from the year ago period.
Revenue from catering came down to Rs 89.89 crore from Rs 271.95 crore, from internet ticketing Rs 35.22 crore from Rs 82.07 crore and from rail neer Rs 3.25 crore from Rs 57.58 crore in the corresponding quarter last fiscal.
The company has made representation for waiver of commitment charges (haulage or/and custody) for operation of trains to the Railways and KTDC due to inability to carry out operations Management is confident that it is likely to get the waiver and hence treating the present quarter as Zero Period and has made no provision.