IRCTC sold Rs 28,475 crore train tickets, e-ticket sales up 14%
Posted on 27th October 2018 |
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| MUMBAI: Indian Railway Catering & Tourism Corp (IRCTC) sold Rs 28,475 crore of train tickets online in the year ended March 2018, growing 14% on-year, but its overall income dipped due to withdrawal of service fee charges. The government-owned portal posted a 3.1% decline in revenue to Rs 1,544 crore while its net profit rose 3.4% to Rs 222 crore. Historically, revenue came from service charge on tickets, sales of Rail Neer packaged water, onboard catering services, and licence fees from outsourced catering vendors. But the service charge earlier levied by IRCTC at Rs 20 per eticket for non-AC classes and Rs 40 per e-ticket for AC classes were withdrawn by the ministry of railways after November 2016 to promote digital payment post demonetisation. “Withdrawal of service charge has resulted in a loss of Rs 693 crore in IRCTC’s 2017-18 turnover. Annual expenditure of Rs 80 crore incurred on website ticketing system, marketing, operation and after-sales service is being compensated by the ministry,” it said in a filing with the Registrar of Companies. An email sent to IRCTC for comments went unanswered till press time Friday. A year ago, it had lost revenues of Rs 575 crore due to the same reason, which means it had to forego nearly Rs 1,268 crore in ticketing revenue since November 2016, revealed data. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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