IRCTCs FY13 profit up 30% By TBM Staff | Mumbai Rail Tourism and non-railway catering have made the Indian Railway Catering & Tourism Corporation Ltd (IRCTC) to increase its profit by 30 per cent and add Rs 166 crore to its FY13 income, as per a Business Standard report. This is a comeback for IRCTC after it lost Rs 300 crore business of railway catering in 2010. IRCTC, the Mini Ratna Public Sector Undertaking of Indian Railways, has seen an increase of 30 per cent in its FY13 income, compared to the previous year. The income stood at Rs 720 crore for 2012-13 compared to Rs 554 crore in FY12. The profits before tax stood at Rs 92 crore for 2012-13 compared to Rs 76 crore in the year before. “Many thought we will not be able to survive without the railway catering business as the business on the platter was lost,” said Rakesh Tandon, Managing Director, IRCTC. Rail Tourism has been the key bailout ticket for IRCTC, whose revenue share has increased six times. “We have bulk agreements with the governments of Madhya Pradesh, Chhattisgarh and Rajasthan, under which we run pilgrim special trains for them,”
Posted on: Wed, 16 Oct 2013 05:19:06 +0000
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