Government of India upgrades IRCTC to 'Schedule A' CPSE
Jul 19, 2024
New Delhi [India], July 19 : Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under the Ministry of Railways, has shared an achievement of a landmark in its 25th year of incorporation by entering the coveted group of Scheduled 'A' Public Sector Undertakings of the Government of India.
The Ministry of Railways, through an office memorandum dated July 19, 2024, announced the upgrade of IRCTC from 'Schedule B' to 'Schedule A' Category, Central Public Sector Enterprises.
On this occasion, Sanjay Kumar Jain, Chairman & Managing Director of IRCTC, said, "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."
CMD, IRCTC also said, "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 the Ministry of Railways and DPE, etc., and we thanked them for their constant support and invaluable guidance."
It is also noted that 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 Rs 1954.48 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 per cent between Fiscal 2022 and Fiscal 2024; a 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 per cent between Fiscal 2022 and Fiscal 2024; and a declared dividend of Rs 280 crores, Rs 440 and Rs 520 crores for 2021-22, 2022-23 and 2023-24, respectively.
