The government on Monday granted 'Navratna' status to Railway public sector enterprises (PSU) Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC).
IRCTC will be the 25th Navratna among the Central Public Sector Enterprises (CPSEs). IRCTC is a Ministry of Railways CPSE with an annual turnover of Rs 4,270.18 crore and a net worth of Rs 3,229.97 crore for FY 2023-24, while IRFC will be the 26th Navratna among CPSEs.
Government in 'wait and watch mode' as markets continue to tumble
IRCTC reported a 13.7 percent rise in its consolidated net profit to Rs 341 crore for the quarter ended December 31, 2024, on account of higher income. The state-run company had posted a net profit of Rs 300 crore in the year-ago period.
The total revenue from operations of the Railway PSU firm increased 10 percent to Rs 1224.7 crore during the quarter under review from Rs 1,115.5 crore in the year-ago period, IRCTC said in an exchange filing in February.
The board has declared a second interim dividend of Rs 3 per share for the shareholders. The company has fixed Thursday, 20th February, 2025 as the record date for the purpose of payment of 2nd interim dividend of the FY 2024-25.
Shares of IRCTC settled higher in trade on Monday at Rs 677.8 per share on the NSE, up over 1 percent. IRFC shares ended flat at Rs 111.6 apiece.
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