New Delhi: Indian Railway Catering and Tourism Corporation Limited (IRCTC), a Navratna CPSE, reported an 18.1% year-on-year increase in revenue from operations to ₹1,369.53 crore for the quarter ended June 30, 2026.
The company’s Board of Directors approved the unaudited standalone and consolidated financial results for Q1 FY27 at its meeting held on August 12, 2026. The meeting began at 3:00 PM and concluded at 7:05 PM.
Despite strong revenue growth, profitability remained broadly stable as expenses increased during the quarter.
IRCTC Q1 FY27 Financial Performance
IRCTC’s standalone financial performance for Q1 FY27 compared with the corresponding quarter last year was as follows:
- Revenue from Operations: ₹1,369.53 crore, up 18.1% from ₹1,159.68 crore.
- Other Income: ₹71.28 crore, up 17.3% from ₹60.74 crore.
- Total Income: ₹1,440.81 crore, up 18.1% from ₹1,220.42 crore.
- Total Expenses: ₹999.53 crore, up 28.4% from ₹778.62 crore.
- Profit Before Tax: ₹441.29 crore, marginally lower from ₹441.80 crore.
- Net Profit: ₹329.86 crore, compared with ₹330.45 crore in Q1 FY26.
- Basic and Diluted EPS: ₹4.12, compared with ₹4.13 a year earlier.
The figures indicate that while IRCTC achieved strong growth in revenue, the rise in expenses limited the impact on the bottom line.
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Catering Leads Segment-Wise Revenue Growth
The Catering segment emerged as the strongest growth driver during the quarter.
Segment-wise revenue for Q1 FY27 stood at:
- Catering: ₹732.26 crore, up 33.9% YoY from ₹546.78 crore.
- Internet Ticketing: ₹360.99 crore, up 0.6% from ₹358.75 crore.
- Tourism: ₹168.07 crore, up 13.8% from ₹147.70 crore.
- Rail Neer: ₹113.91 crore, up 3.1% from ₹110.49 crore.
Catering revenue also increased 9.2% sequentially from ₹670.88 crore in the March quarter.
Internet Ticketing remained an important contributor, although its revenue declined 7.5% sequentially from ₹390.25 crore.
Tourism revenue increased year-on-year but declined significantly from ₹303.58 crore in the previous quarter, reflecting the seasonal nature of the business.
EBITDA Margin Declines as Expenses Rise
At the operating level, IRCTC reported EBITDA of around ₹386 crore, compared with approximately ₹394 crore in Q1 FY26.
The EBITDA margin stood at around 28.18%, down from approximately 34% in the year-ago quarter.
The decline in operating margin came despite strong revenue growth, as total expenses increased by 28.4% year-on-year.
Consolidated Results Remain Broadly in Line
IRCTC’s consolidated financial performance remained broadly aligned with its standalone results.
The company reported consolidated profit before tax of approximately ₹441.68 crore, while consolidated net profit remained close to the standalone figure.
The results reflect strong revenue momentum, particularly from catering, while profitability remained largely stable amid higher operating expenses.
Statutory Auditors Issue Unmodified Limited Review Report
The Statutory Auditors issued a Limited Review Report with an unmodified conclusion on the financial results.
The report, however, included an emphasis of matter relating to certain sub-judice matters concerning license fee and GST claims.
IRCTC Stock Down Over 60% From All-Time High
IRCTC shares have remained under pressure after reaching an all-time high of ₹1,318 per share in May 2024.
At a trading price of around ₹513, the stock is down approximately 61% from its peak, based on the figures provided.
The decline has also continued in 2026, with the stock down around 25% so far this year. This follows declines of approximately 11% and 13% in the previous two calendar years.
After its stock market listing in 2019, IRCTC initially delivered strong returns and maintained its positive performance through 2021.
About IRCTC
Indian Railway Catering and Tourism Corporation Limited (IRCTC) is a Navratna Central Public Sector Enterprise under the Ministry of Railways. The company operates across key railway-related businesses including catering, internet ticketing, tourism and Rail Neer packaged drinking water, playing an important role in providing services to Indian Railways passengers.
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