India’s one of the monopoly companies partners with food tech company zomato for supply and delivery of pre ordered meals.
With the Market capitalization of 57,172 crores ,the shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC) were trading 1 percent lower at Rs 703 levels on Wednesday afternoon.
According to the companies filing in the BSE, the company partnered with Zomato ltd for supplying and delivering pre order meals through IRCTC’s E-catering segment. IRCTC has initiated as a proof of concept in first five railway stations i.e. New Delhi,Prayagraj,Kanpur,Lucknow,and Varanasi. IRCTC is in the view of widening the range of options available to rail passengers for ordering food of their choice under IRCTC’s E-portal.
Ahead of the festive season the company is coming with special offers and discounts.This new offering will help zomato to expand its offering and tap its services into the monopoly segment.
Digging into the consolidated financial statement, the company reported a revenue of Rs 1,001.79 Crore and a net profit of Rs 232.22 crore in Q1FY24.
Coming to the profitability ratio, Return on equity (RoE) has increased during FY 22-23 at 46.26 percent and Return on Capital Employed(RoCE) is at 63.01% during the same period.
According to the recent shareholding pattern, promoters hold 62.4 percent stake in the company. The FIIs and DIIs hold a 7.11 percent and 10.52 percent stake, respectively. In addition to that, Life Insurance of India (LIC) also holds 8.92 percent in IRCTC.
The Indian Railway Catering and Tourism Corporation Ltd (IRCTC) is an Indian monopoly public sector undertaking that provides ticketing, catering, and tourism services for Indian Railways. The company aims to provide quality services for its passengers and to oversee online ticketing, and oversee catering and tourism operations in India.
Written by – Vaibhav Patil
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