The Indian government has granted Navratna Central Public Sector Enterprise (CPSE) status to Indian Railway Catering and Tourism Corporation (IRCTC), marking a significant milestone for the company. With this upgradation, IRCTC has become the 25th CPSE to be accorded the prestigious Navratna status.
IRCTC, a subsidiary of the Ministry of Railways, plays a crucial role in catering, tourism, and online ticketing services for Indian Railways. The company has demonstrated strong financial performance in FY 2023-24, reporting an annual turnover of ₹4,270.18 crore. The company also posted a profit after tax (PAT) of ₹1,111.26 crore and a net worth of ₹3,229.97 crore.
The Navratna status grants IRCTC greater financial autonomy, allowing it to make strategic investments and expansions without requiring direct government approval for certain projects. This move is expected to strengthen IRCTC’s position in the market and further enhance its growth prospects in the tourism and railway services sector.
