IRCTC registers 32% growth
Riding on a robust performance of all its verticals, the Indian Railway Catering and Tourism Corporation (IRCTC) achieved a turnover of Rs 1,506 crore in 2015-16 as compared to Rs 1,141 crore in 2014-15, registering a growth of 32 percent.
New Delhi: Riding on a robust performance of all its verticals, the Indian Railway Catering and Tourism Corporation (IRCTC) achieved a turnover of Rs 1,506 crore in 2015-16 as compared to Rs 1,141 crore in 2014-15, registering a growth of 32 percent.
The Railways PSU's net profit was pegged at Rs 189 crore during FY16 as against Rs 131 crore a year earlier.
The net worth of IRCTC during the fiscal was Rs 542.07 crore while it was Rs 444.25 crore in the previous financial year, as per the 17th Annual Report (2015-16) which was presented at the company's Annual General Meeting (AGM) held recently.
The profit before tax was Rs 308.6 crore as compared to Rs 214 crore in 2014-15 while profit after tax (PAT) was Rs 188.63 crore against Rs 130.63 crore in the previous year, both registering a growth of 44 per cent, a release said.
The operating margin was Rs 329.32 crore in FY 2015-16 and Rs 235.45 crore in the previous year.
Further, IRCTC paid a dividend of Rs 75.45 crore in 2015-16 as compared to Rs 26.13 crore in the previous year.
The company, which has forayed into hospitality and outbound tourism in a big way, earned foreign exchange worth Rs 35.23 crore in 2015-16 as compared to Rs 21.89 crore in the preceding year.
With regard to the segment-wise distribution of IRCTC's income, internet ticketing accounted for 43 per cent, followed by tourism (26 per cent), departmental catering (18 per cent), Rail Neer or packaged drinking water (8 per cent) and licensee catering (5 per cent).
Expressing satisfaction over the functioning of all the verticals of IRCTC, its Chairman and Managing Director AK Manocha, said, "The company witnessed sustained growth and high performance during FY 2015-16."
The CMD noted that the company made it to the prestigious Fortune India Next 500 list of Indian companies for the second year in a row, improving its ranking to 199 from 328 in 2015.
"If the company continues with its present pace of performance, it would be a part of Fortune India 500 list of companies in the next two years," he said.
The Rail Neer segment generated for the company an income of Rs 118.48 crore as against Rs 81.03 crore in 2014-15, registering a growth of 46 per cent.