Govt. of India Upgrades IRCTC to ‘Schedule A’ CPSE

The Indian Railway Catering and Tourism Corporation (IRCTC), a Mini-Ratna PSU under the Ministry of Railways, has achieved a notable milestone by advancing to the Scheduled ‘A’ category of Public Sector Undertakings (PSUs). This upgrade from ‘Schedule B’ was announced by the Ministry of Railways in an office memorandum dated July 19, 2024.

Sanjay Kumar Jain, chairman and MD of IRCTC, praised the promotion as a significant recognition of the corporation’s strong performance. This achievement underscores IRCTC’s effectiveness in management and operations within the hospitality, travel, and tourism sectors.

Leadership Praise

Sanjay Kumar Jain, Chairman and MD of IRCTC, lauded the upgrade to ‘Schedule A’ as a testament to the company’s robust performance, efficient management, and operational success. He expressed gratitude to key figures including the Union ministers of railways, finance, and corporate affairs, as well as senior officials from the Railway Board and DPE for their support and guidance.

Financial Performance

IRCTC has demonstrated remarkable financial growth over the past three fiscal years:

FY 2021-22: Total income of ₹1954.48 crores, Profit after tax of ₹659.55 crores, Dividend of ₹280 crores.

FY 2022-23: Total income of ₹3661.90 crores, Profit after tax of ₹1005.88 crores, Dividend of ₹440 crores.

FY 2023-24: Total income of ₹4434.66 crores, Profit after tax of ₹1111.26 crores, Dividend of ₹520 crores.

Growth Rates

The company achieved a compound annual growth rate (CAGR) of 50.63% in total income and 29.80% in profit after tax between FY 2021-22 and FY 2023-24.