IRCTC Q2 results: Net profit rises multifold to Rs 158 cr, revenue up to Rs 405 cr

IRCTC on Monday reported a multifold rise in its net profit for July-September quarter at Rs 158.6 crore from Rs 32.6 crore in the year-ago quarter.
 
The state-owned company's revenue from operations also zoomed to Rs 404.9 crore from Rs 88.6 crore in the corresponding quarter of previous year.
 
Segment-wise, the revenue from internet ticketing grew to Rs 265.3 crore during the quarter from Rs 58.3 crore a year ago, while that from catering rose to Rs 71.4 crore from Rs 17.2 crore in the year-ago quarter. Revenue from Rail Neer grew to Rs 41.2 crore from Rs 9.2 crore a year ago, while that from tourism rose to Rs 27.1 crore from Rs 3.9 crore in September quarter last year.

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The company said it does not foresee any adverse impact on the supply chains as and when the business is resumed fully wherever the operations were curtailed or have remain suspended on account of the pandemic.
 
Besides, it said it has requested the Railway Board to reconsider waiving off the fixed charges amounting to Rs 27.9 crore up to March 31, 2021 for non-operational period of three private trains considering it as a force majeure situation, as the lockdowns and restrictions imposed by the government due to COVID-19 pandemic were beyond its control. "However, the company has made adequate provision for these charges in the financial year 2020-21," it said.
 
Shares of IRCTC were trading 0.83 per cent higher at Rs 852.65 on the BSE after the declaration of its results.

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