Govt upgrades IRCTC to ‘Schedule A’ CPSE

New Delhi: New Delhi: 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. He highlighted that this achievement underscores IRCTC’s effectiveness in management and operations within the hospitality, travel, and tourism sectors. Jain also thanked key figures including the Union minister of railways, Union minister of finance and corporate affairs and senior officials from the Railway Board and DPE for their support and guidance.

IRCTC has demonstrated remarkable financial growth, with total incomes of Rs 1954.48 crore, Rs 3661.90 crore, and Rs 4434.66 crore for the fiscal years 2021-22, 2022-23, and 2023-24, respectively. This reflects a compound annual growth rate (CAGR) of 50.63 per cent over the period. The profit after tax increased to Rs 659.55 crore, Rs 1005.88 crore, and Rs 1111.26 crore in the same years, showing a CAGR of 29.80 per cent.