IRCTC net income soars 33% despite decline in profit margin

New Delhi: Higher ticket sales offset the massive fall in profit margin and boosted the net income of the rail ticketing monopoly Indian Railway Catering and Tourism Corporation (IRCTC) by 33.3 percent on year to Rs 308 crore for the June quarter.

But the Railways arm said on Tuesday that its profit margin for the quarter declined to 33 percent due to higher contribution of other segments such as catering, state teertha and tourism, which are low-margin segments in comparison with internet ticketing.

Revenue came in at Rs 1,120.15 crore, rising 11.8 percent, said the company, which offers online tickets and manages food services on trains.

For the quarter that ended in March 2024, IRCTC had reported consolidated sales of Rs 1154.8 crore and a net profit of Rs 284.18 crore.