Q3 2026 Indian Railway Catering and Tourism Corporation Ltd Earnings Call Transcript
Key Points
- Indian Railway Catering And Tourism Corp Ltd (BOM:542830) reported the highest ever revenue and profitability in its history for Q3 FY '26.
- Profit after tax (PAT) increased by 15.5% year-on-year, reaching INR394 crores.
- Revenue from operations grew by 18.2% year-on-year, totaling INR1,449 crores.
- The Internet ticketing segment remains highly profitable with an EBITDA margin of 85%.
- Tourism revenue saw a significant increase of 29% year-on-year, despite geopolitical disruptions.
- EBITDA margins slightly moderated due to changes in revenue mix, particularly from higher contributions from catering.
- Catering margins were impacted by the Vande Bharat project due to lower license fees and additional GST costs.
- The payment aggregator license process has been delayed, with document submission extended to August.
- The labor code impact is still being assessed, with potential cost implications for the company.
- The company faces challenges in expanding its non-convenience fee revenue streams amidst high online ticket booking penetration.
Ladies and gentlemen, good day, and welcome to the IRCTC Limited Q3 FY '26 earnings conference call hosted by Dolat Capital. (Operator Instructions) Please note that this conference is being recorded.
I would now like to hand the conference over to Mr. Rahul Jain from Dolat Capital.
Thank you, and over to you, sir.
Thank you, Elavik. Good afternoon, everyone. On behalf of Dolat Capital, we welcome you all to the Q3 FY '26 earnings conference call of IRCTC Limited. I take this opportunity to welcome the management of IRCTC represented by Mr. Sanjay Kumar Jain, who is Chairman and Managing Director of the company; Mr. Sudhir Kumar, who is Director, Finance and CFO.
We also have on the call, Shri Rahul Himalian Ji, who is Director of Tourism and Marketing; and Mr. Manoj Sharma, Director for Catering Services of the company. Now I would like to hand the conference over to IRCTC management to take the proceedings forward. Over to you, please.
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