Indian Railway Catering And Tourism Corporation Ltd.Revenue +18%

Indian Railway Catering and Tourism Corporation reported Q1 FY27 revenue of ₹1,370 Cr, up 18.1% from ₹1,160 Cr, with EBITDA of ₹386 Cr, down 2.77% at a 28.17% margin, and profit after tax of ₹330 Cr.

Catering drove the growth, rising 33.82% to ₹732 Cr on prepaid-train sales, licence fees and ₹41 Cr of election specials, but its margin slipped to 9.29% from 10.42% on about ₹10 Cr of one-time HR cost and proof-of-concept train payments of more than ₹4 Cr. Internet ticketing revenue was ₹361 Cr, up about 0.5%, with margin down to 80.33% from 84.12% as non-convenience fee fell to ₹113 Cr from ₹123 Cr. Rail Neer revenue was ₹109 Cr with margin near 10% on higher resin costs, and tourism rose 13.5% to ₹168 Cr.

Management expects catering margins to return to 10% to 12%, awaits an RBI decision on its payment aggregator licence this financial year, and plans Rail Neer capacity additions and about 20 Vande Bharat sleeper trains.