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Revenue
₹1,118 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹375 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
IRCTC reported an all-time high PAT of INR 308 crore in Q1 FY25, up 32.5% YoY, driven by strong catering and internet ticketing segments. EBITDA reached INR 375 crore with margins at 33.47%, flat YoY but up QoQ. Catering revenue grew 17.1% YoY to INR 559 crore, while internet ticketing revenue rose 13.4% YoY to INR 329 crore. Tourism revenue declined due to election-related train suspensions. Rail Neer capacity utilization improved to 86% from 73% YoY. Management highlighted growth levers: increasing Vande Bharat trains, e-catering expansion (35% YoY meal growth), and potential tariff hikes. Risks include dependence on railway board for pricing decisions and tourism segment volatility.
Colored figures show movement against the previous available record.
Guidance to track
- A new plant with 72,000 bottles per day capacity is expected to be commissioned in Vijayawada by October 2024.
- Management aims to sustain or exceed historical 5-year CAGRs of 17.3% in revenue and 21% in net profit.
- Catering EBITDA margins are expected to remain in the 12%-15% range, with potential improvement from premium trains.
Risks flagged
- Management cannot confirm any timeline for food tariff hikes, which are decided by the Railway Board. Last hike was in 2019.
- Tourism revenue declined 38.1% QoQ and 12.4% YoY due to non-operational trains during elections, highlighting vulnerability to external events.
- With 84% of tickets already booked via IRCTC, incremental growth in ticketing revenue may slow, though UPI adoption is boosting volumes.
- Management declined to comment on sub judice cases regarding previous tariff hikes, indicating legal overhang.
Key quotes
- I am pleased to report that Q1 FY 2025 has been another exceptional quarter for our company, with an all-time high profit of INR 308 crore.
- If you see the comparison of quarter one 2024 with quarter one of 2025, there is an increase of around 35% in average meals per day booked, and 40.1%, 9% is a revenue growth on quarter-over-quarter basis.
- We are trying our best to, like, improve this further, because as you add the numbers of tickets, which is happening, so the interest of, like, your, customers, your bankers, and, treasuries improve.
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