IRCTC, IRFC upgraded to Navratna status, Railway Minister complements

Indian Railway Catering and Tourism Corporation (IRCTC) is a Ministry of Railways CPSE with an annual turnover of ₹4,270.18 crore, PAT (profit after tax) of ₹1,111.26 crore and a net worth of ₹3,229.97 crore for FY 2023-24, the press note said.

New Delhi: With IRCTC and IRFC getting Navratna status on Monday, all the seven listed Public Sector Undertakings (PSUs) of the Indian Railways have now achieved the same status.

Indian Railway Catering and Tourism Corporation (IRCTC) is an extended arm of Indian Railways and the only entity in India to provide online railway ticket booking services, and catering services to railways.

"IRCTC is a Ministry of Railways Central Public Sector Enterprises (CPSE) with an annual turnover of Rs 4,270.18 crore, PAT (profit after tax) of Rs 1,111.26 crore and a net worth of Rs 3,229.97 crore for FY 2023-24," the press note said.

Indian Railway Finance Corporation (IRFC) secures the Extra Budgetary Resources (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms.

“IRFC is a Ministry of Railways CPSE with an annual turnover of Rs 26,644 crore, PAT of Rs 6,412 crore and a net worth of Rs 49,178 crore for FY 2023-24,” the press note added.

The Railway Ministry said that there are 12 CPSEs of Indian railways out of which 7 are listed ones.

“After 2014, all the 7 railway CPSEs got upgraded to Navratna status” Railway Minister Ashwini Vaishnaw said.

Other Central Public Sector Undertaking of the railways that already got Navratna status were CONCOR, RVNL, IRCON RITES and RAILTEL

“All Railway CPSEs are profit-making entities. Their accumulative profit has increased from Rs 7015 crore in FY 2020-21 to Rs 11,780 crore in FY 2023-24 registering an increase of 68 per cent in three financial years,” the Ministry said.

It added, "The market capitalization of all listed Railway CPSEs has increased in the past 3 years from approx. Rs 1.15 Lakh crore. In March 2021 to Rs 4.4 lakh crore. In December 2024. It is an increase of 282 per cent. All listed CPSEs are paying dividends as per government guidelines.”

"Navratna's status as a CPSE ensures it has greater operational and financial autonomy. The status will now empower IRCTC and IRFC with faster decision-making, increased efficiency, and greater empowerment," the Ministry said.