Profit doubles to Rs 214 crore; revenue jumps 103% YoY to Rs 691 crore

NEW DELHI: Indian Railway Catering & () on Monday said its net profit for the quarter ended March was at Rs 213.78 crore, up 105.99 per cent compared to Rs 103.78 crore in the same quarter last year.

The railway ticket master said its revenue from operations came in at Rs 690.96 crore, up 103.95 per cent from Rs 338.78 crore in the year-ago quarter.

The company said its revenue from internet ticketing was at Rs 292.82 crore, compared to Rs 212.01 crore. From catering, its revenue jumped about four fold to Rs 266.19 crore against 67.38 crore in the same quarter year ago. Revenue from Rail Neer was at 51.88 crore, up from Rs 27.80 crore.

“The business activities of the company is gradually coming on track in line with the lifting of restrictions as were imposed by the State and Central Governments,” said the firm said.

“The company said it has also requested the Railway Board to reconsider waiving off the fixed charges (fixed haulage and Custody charges) amounting to Rs 27.93 crore up to 31st March, 2021 for non-operational period of three private trains considering it as a force majeure situation, as the lockdowns and restrictions imposed by Government of India due to COVID-19 pandemic were beyond control of the Company. The matter is pending,” it said.

The board of the directors have proposed a dividend of Rs 1.5 per share subject to shareholder approval.