Indian Railway Catering and Tourism Corporation (IRCTC) reported a largely flat profit for the June quarter — the first quarter of the Indian fiscal year — despite revenue rising 18% year-on-year, according to CNBC-TV18.

While the company's top line grew at a double-digit pace, its operating performance weakened over the period. EBITDA declined compared with the same quarter a year earlier, and margins contracted sharply from year-ago levels, according to the report.

The June-quarter numbers therefore show a divergence between IRCTC's revenue growth and its profitability, with the increase in sales not translating into higher profit or improved operating margins during the period.

That divergence matters because IRCTC earns revenue from several lines of business with different cost profiles, namely online ticketing, catering, packaged drinking water and rail tourism, so the composition of a revenue increase, not just its size, shapes how much of it reaches operating profit. Historically, the internet ticketing segment, anchored by the convenience fee charged on each online booking, has been the company's most profitable business, while catering and tourism operate on thinner margins, which is why analysts track IRCTC's segment mix alongside headline growth. As a listed company, IRCTC files detailed quarterly financial statements with the NSE and BSE, and it is in those disclosures, with segment-level numbers and management commentary, that the drivers behind a margin move become visible.

For the quarters ahead, the factors customarily watched around IRCTC include the trajectory of its margins, growth in online booking volumes as rail travel demand moves through the year, catering contract cycles, and any change to the convenience fee, a policy-sensitive revenue lever given the company's government ownership.

About IRCTC

IRCTC is a central public sector undertaking under the Ministry of Railways, Government of India. It is the only entity authorised by Indian Railways to provide online railway ticketing services, which it offers through its website and mobile application. The company also provides catering services on trains and at stations, packaged drinking water under the Rail Neer brand, and rail-based tourism and travel services. Because its ticketing volumes move with passenger traffic on Indian Railways, one of the world's largest railway networks, IRCTC's periodic results are also followed as a window on rail travel activity in the country.

IRCTC made its stock market debut in October 2019 through an initial public offering and is listed on the National Stock Exchange (NSE) and BSE. The company is one of India's prominent listed railway-sector stocks, and its quarterly earnings are reported as part of the routine results season for Indian listed companies. In India, the fiscal year runs from April to March, so the June quarter corresponds to the first quarter (Q1) of the financial year.

The results were published by CNBC-TV18 on August 12, 2026.

Source: CNBC-TV18