IRCTC to provide QR code-based DMRC tickets on its platform; shares off day's low

Indian Railway Catering and Tourism Corporation (IRCTC) on Monday signed an agreement with Delhi Metro Rail Corp (DMRC), As part of the memorandum of understanding (MoU), IRCTC, through its platform, will provide QR code-based DMRC tickets. IRCTC shares recovered some of their intraday losses after the announcement. 

The IRCTC stock was last seen trading lower by Rs 13.1 — or two per cent — at Rs 649.6 apiece on BSE, having declined by as much as Rs 24 — or 3.6 per cent — to Rs 638.7 apiece earlier in the day. 

The initiative is set to benefit passengers of both IRCTC and DMRC by streamlining the travel experience and reducing the time spent in queues at stations, said IRCTC, the only firm authorised by the Indian Railways to offer online railway ticket-booking services and provide food services onboard trains.

TRENDING NOW

PM Modi inaugurates Global Investors Summit in Uttarakhand

RBI keeps repo rate steady for the 5th time: Here is what market experts, analysts and industry leaders say

India bans onion exports till March next year

RBI monetary policy | MPC keeps repo rate unchanged at 6.5% for fifth consecutive time; top highlights

Regulatory framework for loan web-aggregators to result in accountable lending and borrowing ecosystem

Rate-sensitive stocks trade in green ahead of the RBI policy decision

Government curbs ethanol production from cane juice to boost sugar supplies

IBA inks agreement with unions; bank staff pay to increase by 17%

Meghalaya: 3.8 magnitude earthquake jolts Shillong

Anil Singhvi strategy December 8: Important levels to track in Nifty50, Nifty Bank today

RBI monetary policy | E-mandates to get a boost: Limit for recurring transactions to be increased

Earthquake in Karnataka today: Quake of magnitude 3.1 strikes Vijayapura

Orchid Pharma shares hit 20% upper circuit as Investec initiates 'Buy' citing strong growth

RBI Monetary Policy Live Updates: Will Shaktikanta Das keep key rates on hold once again? Here is what to expect today

BCL Industries shares hit fresh 52-week high - Here's why

ALSO READ: DMRC to make passengers aware about CO2 emissions reduction due to Metro travel

Last week, IRCTC reported a set of quarterly results that fell short of analysts' estimates. Indian Railway Catering and Tourism Corp's net profit declined 5.4 per cent on a year-on-year basis to Rs 232.2 crore for the quarter ended June 30. 

IRCTC's revenue grew 17.5 per cent to Rs 1,001.8 crore for the first quarter of the current financial year compared with the year-ago period, according to a regulatory filing. 

According to Zee Business research, IRCTC's quarterly net profit was estimated at Rs 275.4 crore and revenue at Rs 1,025 crore.