IRCTC revenue reduced drastically in 2020-21 due to Covid

Latest Update- 30/12/2022

Due to travel limitations related to Covid, IRCTC's income "decreased substantially" by over 64 percent for 2020–21 as compared to 2019–20, according to Wednesday's statement from Railway Minister Ashwini Vaishnaw.

He continued by saying that as everything returned to normal, income steadily rose.

In answer to a question in the Lok Sabha, Vaishnaw stated that the Indian Railway Catering and Tourism Corporation earned Rs 2,342.41 crore in the 2019–2020 fiscal year, compared to Rs 861.64 crore in the 2020–21 financial year, which was affected by Covid. The IRCTC earned Rs 1,952.30 crore in 2021–2022.

"Due to travel restrictions put in place during Covid-19 by the Government of India, revenue for FY 2020–21 has declined substantially compared to FY 2019–20. However, as limits were removed and cooked food started to be served in trains from FY 2021–2022, the income increased once more gradually "said he.

He further stated that it is expected that 5,229 lakh rail passengers will purchase train tickets through IRCTC in 2019–2020, followed by 3,052 lacks in 2020–21, and 7,343 lacks in 2021–22.

According to them, 4,607 lakh travelers have used IRCTC to purchase tickets so far in the current fiscal year. The minister said that in addition to IRCTC, there are other important companies in the internet ticketing industry, like Makemytrip and EaseMyTrip.

"However, because of the IRCTC's involvement in other industries including catering, travel, and tourism as well as Railneer in addition to online tickets, their business cannot be comparable to that of the IRCTC.

However, after its IPO (on the 14th of October 2019), the company's market value has improved, increasing to Rs 61,976 crore as of March 31, 2022, from Rs 11,644 crore "said he.

Last Updated- 08/9/2021

For the third day in a row, IRCTC (Indian Railway Catering and Tourism Corporation) shares have risen. On the Bombay Stock Exchange, its share price achieved an all-time high of Rs 3,296. After being knocked down by the second wave of Covid-19, IRCTC's stock has swiftly recovered. According to numerous analysts, investors should take advantage of the dip during the second wave. This year has seen a favourable influence from the Indian Railways' Asset Monetisation Programme and the IRCTC's aim to expand its hotel sector. As a consequence, analysts anticipate that the stock will hit Rs 5,000 in a short period. According to one analyst, the price of IRCTc shares may also hit Rs 3,400 by the time the firm achieves that level.