Government of India upgrades IRCTC to 'Schedule A' CPSE
Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under Ministry of Railways is delighted to share an achievement of a prestigious landmark in its 25th year of incorporation by entering into the coveted group of Scheduled ‘A’ Public Sector Undertakings of Government of India
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New Delhi, Jul 22: Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under Ministry of Railways is delighted to share an achievement of a prestigious landmark in its 25th year of incorporation by entering into the coveted group of Scheduled ‘A’ Public Sector Undertakings of Government of India.
Ministry of Railways, Government of India, through an office memorandum dated 19thJuly 2024, announced the up-gradation of IRCTC from 'Schedule B' to 'Schedule A' Category, Central Public Sector Enterprises.
On this historic occasion, Sanjay Kumar Jain, Chairman & Managing Director of IRCTC stated, “IRCTC’s promotion to a 'Schedule A' category PSU is indeed a significant achievement as it signifies IRCTC’s robust performance. This recognition reflects positively on IRCTC's management, operations, and its contribution to the hospitality, travel, and tourism sectors under the Ministry of Railways. It's a testament to the hard work and dedication of everyone involved with IRCTC over its 25-years journey.”
CMD, IRCTC also stated “We are immensely grateful to Union Minister of Railways, Union Minister of Finance & Corporate Affairs; Union Ministers of State for Railways; Secretary, DPE; Chairman & Chief Executive Officer, Railway Board; Member (Operations & Business Development) and Member (Finance) Railway Board; and other Senior officials of Ministry of Railways and DPE, etc. and thanked them for their constant support and invaluable guidance.
With a well-diversified and resilient business model, IRCTC has followed a trajectory uniquely rooted in India’s growth story. The Company has consistently demonstrated excellent financial performance and earned a total income of Rs1954.48 crores, Rs 3661.90 crores and Rs 4434.66 crores for Financial Years 2021-22, 2022-23 and 2023-24, respectively, reflecting a CAGR of 50.63% between Fiscal 2022 and Fiscal 2024; Profit after tax of Rs 659.55 crores, Rs 1005.88 crores and Rs 1111.26 crores for 2021-22, 2022-23 and 2023-24, respectively, reflecting a CAGR of 29.80% between Fiscal 2022 and Fiscal 2024; and declared dividend of Rs 280 crores, Rs 440 and Rs 520 crores for 2021-22, 2022-23 and 2023-24 respectively.
