Delhi Metro Rail Corp. and the Indian Railway Catering and Tourism Corporation (IRCTC) inked a contract To sell metro tickets using QR codes on their respective platforms,. Passengers on the IRCTC and DMRC are anticipated to benefit from the initiative.
IRCTC announced in a press release that it had signed a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC) on August 14, 2023, by Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the provision of QR code-based DMRC tickets through IRCTC Platform.
It said, “By streamlining the travel process and decreasing the time spent in lines at stations, this innovative initiative is set to benefit passengers of both IRCTC and DMRC.”
During the final three months of the previous fiscal year, the firm earned 279 crore in profit. The statement was made following the release of IRCTC’s first-quarter financial-year results. The profit was 232.22 crore, which is a 5% YoY decline in profit.
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IRCTC’s revenue from the online ticketing industry declined by 4% to 290 crores in the April-June quarter from 302 crores in the same period the previous year, according to sector performance.
From 82 crore in the same quarter last year to 130 crore in the June quarter, the revenue from the tourist industry increased by 58 percent.
In addition, income from the rail transport industry rose by 10% to 96 crore in the reviewed quarter from 87 crore in the same quarter the year before. The catering segment’s sales climbed 35% to Rs. 471 crore during the June quarter from Rs. 352 crore during the same period last year.
IRCTC, which is controlled by Indian Railways, stated last week that its first quarter fiscal year 2023 (Q1FY24) net profit fell by 7% year over year to Rs 231 crore.
The quarter’s total income was Rs 1,001.8 crore, 17.5% more than the Rs 852.6 crore earned during the same time the prior fiscal year.
