- Wall Street slides amid Fed meeting concerns, potential Ukraine conflict; Dow Jones, S&P 500, Nasdaq Composite witness sharp fal
- Axis Bank Q3FY22 Earnings: PAT up 224% YoY to Rs 3614 cr on strong deposit and loan growth; NII up 17%
- Budget 2022 Expectations: From access to laptops at schools, universities to support to EdTech startups - check budget wishlist
- Swiggy raises Rs 5,225 crore from Invesco; to advance core platform, grow quick commerce grocery service Instamart
Ticketing volumes exceed pre-Covid levels, tourism to take some time: IRCTC CMD Rajni Hasija
In today’s edition of ‘News Par Views’, Zee Business Managing Editor Anil Singhvi spoke to the Chairman and Managing Director (CMD) of Indian Railway Catering and Tourism Corporation (IRCTC) Rajni Hasija.
The conversation was in the backdrop of the latest quarterly results announced by the company on Monday. During the July-September quarter, IRCTC reported an income of Rs 405 cr with operating profit at Rs 211 cr.
See Zee Business Live TV Streaming Below:
The CMD said that the September quarter results were much better on the sequential as well as year-on-year (yoy) basis.
She said that the internet ticketing and Rail Neer segments are now in profits while tourism is still some distance. The losses incurred in catering segment are only Rs 19 lakh this quarter in comparison to previous quarter and that could be achieved any day, she further said. There is still some time to get ack to the cooked food services.
There is a lot of positivity and enthusiasm in the team, Hasija said.
In the internet ticketing segment, the company has surpassed its pre-covid levels. Meanwhile, catering which accounts for 39 per cent of the revenues
In FY20, the revenue from operations stood at Rs 2275 cr and out of this the catering services contributed Rs 105 cr (45 per cent), the CMD said. It is not up to that level as the IRCTC is serving ready-to-eat food. The IRCTC has now witnessing a breakeven and incurring losses.
The vaccination has been a positive development.
Its Ramayana Yatra on 7 November North East frontier have been booked completely and the company had to undertake another train service.
She said that she was hopeful of tourism sector picking up, going forward.
Watch Zee Business Tweet Video Below:
#IRCTC की करीब 5 गुना बढ़ी आय और मुनाफा
'तेजस' के मुनाफे में कब आएगी तेजी?
आगे के लिए क्या है ग्रोथ आउटलुक?
— Zee Business (@ZeeBusiness) November 3, 2021
IRCTC shares were trading negatively today at Rs 826.40, down bt almost 2.6 per cent.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.