IRCTC Q2 FY27 Results: Revenue Grows 19.5% To ₹1,369.53 Crore As Higher Operating Expenses Weigh On Profitability

Indian Railway Catering and Tourism Corporation Limited (IRCTC) reported consolidated revenue from operations of ₹1,369.53 crore in Q2 FY27, an increase of 19.5% from ₹1,145.99 crore in the corresponding quarter last year.

Consolidated profit after tax (PAT) stood at ₹330.16 crore, down 3.5% from ₹342.02 crore a year earlier. The decline came as expenses increased faster than income, despite growth across the company's main business segments.

The IRCTC share price closed at ₹470.95 on 12 November, down 0.24% on the National Stock Exchange (NSE).

IRCTC Q2 Results Snapshot

Consolidated total income, including other income, increased to ₹1,441.24 crore from ₹1,208.97 crore. Total expenses, however, rose 31.9% to ₹999.56 crore. As a result, profit before tax (PBT), before exceptional items, declined to ₹441.68 crore from ₹451.41 crore.

The increase in expenses was spread across several operating heads. Catering service expenses rose to ₹557.32 crore from ₹389.12 crore, while tourism expenses increased to ₹152.34 crore from ₹120.13 crore. Purchases of stock-in-trade also climbed to ₹69.62 crore from ₹36.92 crore. Employee benefit expenses were higher at ₹89.01 crore against ₹81.08 crore.

IRCTC's standalone results showed revenue from operations of ₹1,369.53 crore and PAT of ₹329.86 crore for the quarter, compared with ₹1,145.99 crore and ₹341.86 crore, respectively, in Q2 FY26.

IRCTC H1 FY27 Highlights

Consolidated revenue from operations increased 17.2% to ₹2,702.60 crore in H1 FY27 from ₹2,305.67 crore in the corresponding period last year. PAT declined 11.7% to ₹593.72 crore from ₹672.73 crore.

The fall in half-year profit was largely linked to an exceptional provision of ₹116.30 crore recognised in the period. Before exceptional items, consolidated PBT was ₹913.94 crore, compared with ₹893.54 crore in H1 FY26. This shows that profit before the one-off charge was higher than in the previous year.

On a standalone basis, IRCTC reported H1 revenue from operations of ₹2,702.60 crore and PAT of ₹593.18 crore, compared with ₹2,305.67 crore and ₹672.31 crore, respectively, in H1 FY26.

Why Did IRCTC Recognise A ₹116.30 Crore Provision?

An order was passed on 14 October 2026 in proceedings concerning alleged profiteering on Rail Neer packaged drinking water. The tribunal accepted the Directorate General of Anti-Profiteering (DGAP) report and directed IRCTC to deposit ₹50.41 crore in the Central and State Consumer Welfare Funds in equal proportions.

The order also requires interest at 18% per annum from 28 June 2019 until the date of deposit. A penalty of 10% of the alleged profiteered amount has been imposed, but it will not be payable if the full amount and applicable interest are deposited within 30 days of the order.

IRCTC has said it is filing an appeal before the competent court. It recognised this provision in its financial results, covering the alleged profiteered amount and interest calculated up to 30 September 2026.

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