The Indian Railways registered earnings of approximately ₹ 48,913 crores in the nine months ended December (April 2022 to December 2022). This is an escalation of 71% as compared to ₹ 28,569 during the corresponding period last year.
The number of passengers with reserved bookings rose to 59.61 crores, up 6.35% as compared to 56.05 crores during the same period last year. Meanwhile, the unreserved passenger segment saw a growth of 137 per cent to 401.97 crores compared to 169.68 crores during the corresponding period last year, the Railway Ministry said on Monday, January 02, 2023.
The revenue generated from the reserved passenger segment was ₹ 38,483 crores between April and December 2022, versus ₹ 26,400 crores during the same period last year. This implies a growth of 46%. Meanwhile, the revenue from the unreserved passenger segment grew 381% from ₹ 2,169 crores to ₹ 10,430 crores.
The leap in the Indian Railway’s earnings shows a massive growth in the movement of people on the national transporter over the last three years, which was impacted by the Coronavirus pandemic-led lockdown.
The shares of Indian Railway Catering & Tourism Corporation Ltd (IRCTC) were up 0.63% at ₹ 646.40 apiece at 12:15 PM on Tuesday. IRCTC is a large-cap company with a market capitalization of ₹ 51388 crores. It has an excellent return on equity of 39.75% and an ideal debt-to-equity ratio of 0.10.
IFL Securities director and veteran market expert Sanjiv Bhasin has given a target of ₹ 715 on the shares of IRCTC. This implies an upside of 10.61% as compared to its current market price.
Written by Simran Bafna
