New Delhi: IRCTC Limited, the Navratna PSU under the Ministry of Railways, reported a 22% year-on-year increase in standalone net profit to ₹325.01 crore for the quarter ended December 31, 2025 (Q3 FY26), supported by steady growth in its internet ticketing, catering, and tourism segments.
The company also declared a second interim dividend of ₹3.50 per share (175%) and announced a significant Supreme Court victory, eliminating a long-pending arbitration liability of ₹74.71 crore.
Q3 FY26 Financial Highlights (Standalone)
IRCTC delivered solid financial performance in the December quarter:
- Net Profit (PAT): ₹325.01 crore (vs ₹266.32 crore in Q3 FY25) — ↑ 22.1%
- Total Income: ₹1,131.79 crore (vs ₹1,014.24 crore YoY)
- Operating Revenue: ₹1,092.59 crore
- Earnings Per Share (EPS): ₹4.06 (vs ₹3.33 YoY)
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Nine-Month Performance (April–December 2025)
For the first nine months of FY26, IRCTC reported:
- Net Profit: ₹975.52 crore (vs ₹854.33 crore in 9M FY25)
- Total Income: ₹3,245.28 crore
The company maintained stable margins across its core business segments.
Segment Performance (9M FY26)
IRCTC’s Internet Ticketing segment remained the primary profit driver, contributing over 86% of total segment profits. Segment highlights include:
- Internet Ticketing: Revenue ₹1,55,402.13 lakh | Segment Profit ₹1,25,674.73 lakh
- Catering: Revenue ₹1,16,959.22 lakh | Segment Profit ₹9,598.94 lakh
- Rail Neer: Revenue ₹31,354.10 lakh | Segment Profit ₹4,395.35 lakh
- Tourism: Revenue ₹28,089.07 lakh | Segment Profit ₹1,389.03 lakh
Second Interim Dividend Announced
The Board declared a second interim dividend of ₹3.50 per equity share (face value ₹2) for FY26.
- Dividend Percentage: 175%
- Record Date: February 20, 2026
- Payment: To eligible shareholders post record date
Earlier in November 2025, the company had paid a first interim dividend of ₹2.50 per share.
Supreme Court Verdict Favors IRCTC
In a landmark development, the Supreme Court of India ruled in favor of IRCTC in a decade-old arbitration dispute related to catering license fee claims.
Case Background:
- Licensees claimed ₹7,471.65 lakh plus interest (2015–2020 period)
- Arbitral award passed in April 2022
- Delhi High Court Division Bench had restored full award in February 2025
- IRCTC had deposited ₹8,471.65 lakh as bank guarantee
Outcome:
- Supreme Court set aside previous orders
- Entire bank guarantee released
- No financial liability remains
The ruling removes a significant contingent liability and strengthens IRCTC’s financial position.
Key Legal and Regulatory Matters Under Review
The auditors highlighted certain ongoing matters:
- License Fee Enhancement (Sub-Judice): Dispute over Railway Board circular (CC60/2019), pending before High Courts
- GST Profiteering Case: ₹50.41 crore allegation related to Rail Neer pricing, pending before GSTAT
- ITC Dispute with Rail Neer PPP Operators: ₹3.27 crore recovery under process
- New Labour Codes: Financial impact under assessment
Exceptional Income (9M FY26)
- ₹5.80 crore – Reduction in charges for two Tejas Express trains
- ₹10.90 crore – Excess provisions written back
- Total Exceptional Income: ₹16.70 crore
Consolidated Performance
Including subsidiary IRCTC Payments Ltd:
- Q3 Consolidated Net Profit: ₹317.68 crore
- Consolidated Total Income (Q3): ₹1,145.99 crore
- Consolidated Net Profit (9M): ₹955.98 crore
Stock Performance
IRCTC shares (NSE: IRCTC) closed at ₹841.65, up 1.2% following the results announcement.
Outlook
With the arbitration dispute settled and internet ticketing continuing to drive strong margins, IRCTC remains well-positioned for sustained profitability. Key monitorables include resolution of GST proceedings and catering license fee litigation.
About IRCTC
Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a Navratna Central Public Sector Enterprise under the Ministry of Railways. It is the sole authorized entity for online railway ticket booking, catering services, Rail Neer packaged drinking water, and tourism operations in India. IRCTC serves millions of passengers daily and plays a critical role in India’s railway ecosystem.
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