-
ALSO READ
IRCTC posts Q1 profit at Rs 82 cr, board approves 1:5 stock split
IRCTC's stock rally has more steam left; buy on every dip, suggest analysts
Explained: Why IRCTC wants a partner for its premium train operations
IRCTC's payment gateway gains traction, handles 125,000 transactions daily
IRCTC's Q4 net profit falls 23%; firm to pay dividend of Rs 5 per share
-
The company that provides ticketing, catering, and tourism to the Indian Railways has been asked by the government to share revenues generated from convenience fees for bookings made on its website on a 50:50 basis.
The Indian Railways Catering and Tourism Corporation's (IRCTC) revenue-sharing arrangement would be enforced from November 1, it said in a regulatory filing on October 28, along with other details.
"ln compliance with the Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,2015, it is to be informed that Ministry of Railways vide above-referred letter has conveyed its decision to share the revenue earned from convenience fee collected by IRCTC in the ratio of 50: 50 w.e.f 1't November 2021," IRCTC stated in the filing.
The central public sector enterprise (CPSE), which comes under the Ministry of Railways, is expected to announce its quarterly results on November 1. It had reported a 23 per cent decline in net profit year-on-year at Rs 103.8 crore in June quarter.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU