IRCTC Achieves 'Schedule A' PSU Status in Landmark 25th Year

The Indian Railway Catering and Tourism Corporation (IRCTC) has been elevated to 'Schedule A' Public Sector Undertaking status by the Ministry of Railways, marking a major milestone in its 25th year. This upgrade reflects IRCTC's robust financial performance, remarkable growth, and significant contributions to the travel and tourism sectors.

The Indian Railway Catering and Tourism Corporation (IRCTC) has reached a significant milestone, being upgraded to a 'Schedule A' Public Sector Undertaking by the Ministry of Railways. The announcement came via an office memorandum dated July 19, 2024, as IRCTC celebrates its 25th year of incorporation.

Sanjay Kumar Jain, Chairman & Managing Director of IRCTC, highlighted the achievement, stating, '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 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-year journey.' He also expressed gratitude to key ministers and senior officials for their continual support and guidance.

IRCTC's financial performance has been impressive, with a total income of Rs 1954.48 crores, Rs 3661.90 crores, and Rs 4434.66 crores for the fiscal years 2021-22, 2022-23, and 2023-24 respectively, reflecting a CAGR of 50.63% between Fiscal 2022 and Fiscal 2024. The profit after tax stood at Rs 659.55 crores, Rs 1005.88 crores, and Rs 1111.26 crores for the same periods, with a CAGR of 29.80%. The company has also declared dividends of Rs 280 crores, Rs 440 crores, and Rs 520 crores for these fiscal years. These figures underscore IRCTC's growth trajectory and its essential role in India's economic story.

(With inputs from agencies.)