IRCTC’s Turnover Goes up to Rs 1506 Crore

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 per cent. The company’s net profit was pegged at Rs 189 crore during the period as against Rs 131 crore a year earlier.
The net worth of IRCTC, a ‘mini Ratna’ PSU of Indian Railways, during the fiscal 2015-16 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 AGM held on Tuesday (Sept 27).
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 (Rs 130.63 crore in the previous year), both registering a growth of 44%.
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 as compared to Rs 26.13 crore in 2014-15.
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%, followed by Tourism (26%), Departmental Catering (18%), Rail Neer or packaged drinking water (8%) and Licensee catering (5%).
Expressing satisfaction over the functioning of all the verticals of IRCTC, its Chairman and Managing D
irector, Dr. A K Manocha, said, “The company witnessed sustained growth and high performance during FY 2015-16. It also earned ‘Excellent’ MoU rating from the Govt. of India in 2015 and is poised to retain this rating for FY 2016.”
In particular, the CMD mentioned about the company making it to the prestigious Fortune India Next 500 list of Indian companies for the second year on the trot, while improving its ranking to 199 from 328 in 2015. “If the company continues with its present pace of performance, it would be part of Fortune India 500 list of companies in the next two years,” he noted.
“Being fourth year in a row, the company received “NIL” comments from the Comptroller & Auditor General of India for FY 2015-16,” Dr. Manocha said.
Giving details, he said the company earned Rs 255.5 crore from departmental catering, Rs 76.49 crore from licensee catering and Rs 632.15 crore from internet ticketing (Rs 308.12 crore in 2014-15), Rs 375.02 crore from tourism (Rs 362.37 crore in FY 2014-15).
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%.