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Labor code implementation cost impact
View Risks →Indian Railway Ctrng nd Trsm Corp Ltd — Q3 FY26
IRCTC delivered a record quarter with revenue of ₹1,449 crore (+18.2% YoY) and PAT of ₹394 crore (+15.5% YoY), driven by strong performance across all segments.
bullish
high
Financial stats pending filing verification
2-Minute Summary
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IRCTC delivered a record quarter with revenue of ₹1,449 crore (+18.2% YoY) and PAT of ₹394 crore (+15.5% YoY), driven by strong performance across all segments. Internet ticketing remained the profit engine with 85% EBITDA margin, while catering revenue surged 19.1% YoY, aided by 40 new train contracts including 19 Vande Bharat sets. Tourism revenue grew 29% YoY to ₹289 crore, led by Maharaja Express (+39%) and Bharat Gaurav trains (+51%). Rail Neer added 25-30% capacity via new plants. Management guided for 15% sustainable growth and highlighted 260 Vande Bharat trains in pipeline. Key risk: labor code implementation could add cost pressure, though management expects to offset via volume growth.
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Read Transcript →Quarter Snapshot
Daily ticket bookings
14.64 lakh
+7.7% YoY
Average daily ticket bookings increased from 13.59 lakh in Q3 FY25.
UPI transaction share
50.18%
+332bps YoY
UPI share of ticketing transactions rose from 46.86% in Q3 FY25.
Rail Neer daily sales
12.68 lakh bottles
N/A
Average daily bottle sales in Q3 FY26; capacity expansion underway.
Online ticketing market share
89%
N/A
IRCTC's share of reserved railway tickets booked online.
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Guidance and risk preview
Management targets 15% overall growth for the full year, driven by all segments.
New labor codes may increase costs due to reduced gratuity period and health checkup requirements; management is still assessing impact.
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