Indian Railway Catering and Tourism Corporation Ltd on January 27 reported a 62% decline in its profit after tax for the quarter ended in December to Rs 78 crore, as coronavirus kept most of the national transporter’s operations shut. It was ₹206 crore in the year-ago period.
“The reduction in operating turnover is mainly due to Covid-19 pandemic …representations have been made to railway board for a waiver of fixed commitments against various trains run by the company which could not be operated for the period up to October 16, 2020, during the present pandemic, for which approval is awaited,” the company said.
The Indian Railway’s catering and tourism wing’s revenue from operations declined 68.6% to Rs 224 crore for the quarter under review. The revenue was Rs 715 crore during the same period a year earlier. On a sequential basis, the revenue from operations rose 154%. It was Rs 88 crore in the September quarter. Segment-wise, the revenues from catering came in at Rs 49 crore, while the revenues from internet ticketing stood at Rs 143 crore.
IRCTC’s total expenses declined 70% at Rs 140 crore during the December quarter over the same quarter a year earlier.
IRCTC is the only entity authorised by Indian Railways to provide catering services, online railway tickets and packaged drinking water at railway stations and trains in India.