IRCTC and IRFC Receive Navratna Status | IRCTC and IRFC got Navratna status: IRCTC 25th and IRFC became 26th company to achieve this position

Indian Railway Catering and Tourism Corporation Limited (IRCTC) and Indian Railway Finance Corporation Limited (IRFC) have achieved the status of Navratna. The government on Monday (March 3) upgraded IRCTC and IRFC to Navratna Central Public Enterprises.

IRCTC has become 25th and IRFC 26th Navratna Company. The Government of India gives companies the status of Navratna and Maharatna on the basis of their financial performance, management and national importance.

Criteria for Navratna and Maharatna

1. Financial Performance: The company’s financial performance should be better. This includes his income, profit and market cap. 2. Management: The management of the company should be strong and skilled. 3. National Importance: The company should have national importance, such as how much and how it is contributing to the country’s economy. 4. Government share: The government’s share in the company should be at least 51%.

IRCTC profit up 14% in third quarter

The IRCTC’s financial year 2024-25 in the third quarter (October-December) increased by 14% to ₹ 341 crore on an annual basis (YOY). The consolidated net profit in the same quarter of a year ago was ₹ 300 crore.

The company’s revenue has increased by 10% on an annual basis. The operation in the third quarter of FY25 was ₹ 1224.7 crore from the operation. The revenue was ₹ 1,115.5 crore in the same quarter of a year ago. IRCTC released the results of the third quarter on 11 February.

IRCTC joined Indian Railways in 1999

Indian Railway Catering and Tourism Corporation (IRCTC) is a ‘Mini Ratna (Category-I)’ Central Public Sector Enterprise under the Ministry of Railways, Government of India. IRCTC was included on 27 September 1999 as a branch of Indian Railways.

It aims to manage catering and hospitality in stations, trains and other places. Along with this, domestic and international tourism is to be promoted through the development of budget hotels, special tour package, information and commercial publicity and global reservation system. IRCTC’s corporate office is located in New Delhi.

Core Activities of IRCTC