IRCTC Q2 Results: Profit declines 23% YoY to Rs 264 crore, revenue rises 16%

Indian Railway Catering and Tourism Corporation (IRCTC) reported a 22.9% year-on-year decline in its consolidated net profit to Rs 263.6 crore for the September quarter of FY27 (Q2FY27), compared with Rs 342 crore in the corresponding quarter of the previous financial year.

Revenue from operations, however, increased 16.3% year-on-year to Rs 1,333.1 crore during the quarter under review, compared with Rs 1,146 crore in Q2FY26, according to the company's exchange filing.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) increased marginally by 1% to Rs 408 crore from Rs 404 crore a year earlier. However, the EBITDA margin contracted to 30.6% in the September quarter from 35.2% in the corresponding quarter last year.


Among its business verticals, catering revenue increased 26.05% year-on-year to Rs 655.01 crore from Rs 519.66 crore. Rail Neer revenue grew 7.5% to Rs 101.11 crore, compared with Rs 94.06 crore in the corresponding quarter last year.

Internet ticketing revenue registered a marginal increase of 1.01% to Rs 389.77 crore from Rs 385.88 crore, while tourism revenue rose 28.42% to Rs 192.03 crore from Rs 149.53 crore.

At the segment level, Rail Neer reported a loss of Rs 106.12 crore in Q2FY27, compared with a profit of Rs 8.68 crore in the year-ago quarter. Catering segment profit declined 3.7% year-on-year to Rs 64.48 crore from Rs 66.96 crore.

Internet ticketing segment profit increased marginally by 0.54% to Rs 328.56 crore from Rs 326.78 crore, while tourism segment profit rose 31.44% to Rs 13.42 crore from Rs 10.21 crore.

Ahead of the results announcement, IRCTC shares settled at Rs 470.95 apiece on the NSE, down 0.24% from the previous close of Rs 472.10. The stock traded in a range of Rs 467.40-480.70 during Thursday's session.

For the year-to-date period in 2026, IRCTC shares have declined 31%, according to NSE data. The state-owned company had a market capitalisation of Rs 37,676 crore on the NSE.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here