The Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under the Ministry of Railways, has reached a significant milestone by being elevated to the Scheduled 'A' category of Public Sector Undertakings

Description

The Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under the Ministry of Railways, has reached a significant milestone by being elevated to the Scheduled 'A' category of Public Sector Undertakings. The Ministry of Railways announced the upgrade from 'Schedule B' in an office memorandum dated July 19, 2024.

Sanjay Kumar Jain, IRCTC's chairman and MD, praised the promotion as a significant recognition of the company's outstanding achievements. This achievement demonstrates IRCTC's success in management and operations in the hotel, travel, and tourist industries.

Leadership Praise

IRCTC Chairman and MD Sanjay Kumar Jain praised the upgrading to 'Schedule A' as evidence of the company's strong performance, efficient management, and operational success. He thanked key leaders such as Union ministers of railways, finance, and corporate affairs, as well as senior officials from the Railway Board and DPE, for their assistance and guidance.

Financial Performance

IRCTC has demonstrated outstanding financial growth over the last three fiscal years-

• FY 2021-22: Total income of ?1954.48 crores, profit after tax of ?659.55 crores, and dividend of ?280 crores.

• FY 2022-23: Total income of ?3661.90 crores, profit after tax of ?1005.88 crores, and dividend of ?440 crores.

• FY 2023-24: Total income of ?4434.66 crores, profit after tax of ?1111.26 crores, and dividend of ?520 crores.

Growth Rates

Between FY 2021-22 and FY 2023-24, the company's total income increased at a compound annual growth rate (CAGR) of 50.63% and its profit after tax increased by 29.80%.

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