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February 1, 2021
Around 7.5-8 lakh tickets were booked on IRCTC per day between in Q3FY21, a trend which has carried on in January, the company’s chairman and managing director Mahendra Pratap Mall disclosed on an earnings call on Friday.
Between October-December alone, 55 million tickets were booked.
The railways was heavily impacted in 2020 by the suspensions in movement due to the coronavirus pandemic. Trains were suspended from March until May, and then only resumed at staggered capacity.
However, per day ticket volumes are nearly 90% of pre-COVID volumes. Mall said that 30% of the per day bookings are coming from bookings on previously unreserved seats; each mail express train used to have 3-4 unreserved coaches, which the Indian Railways has converted into ‘sitting’ reserved coaches post-COVID, the Railways also used to handle the bookings for these coaches directly.
Key takeaways
Internet ticketing now accounts for 64% and 53% of the company’s Q3FY21 and FY21 operational revenue, up from 27% of FY20 operational revenue.
Internet ticketing has been the only profitable segment for the company in FY21.
All other segments, Tourism, Rail Neer, and Catering, have posted losses.
This quarter, internet ticketing earned ₹109 crore in profits, a fall of 44% YoY and an improvement of 78% QoQ.
Internet ticketing was completely driven by convenience fees charged on online ticket bookings.
The Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) posted operational revenues of ₹224.37 crore for the quarter ended December 31, 2020, which is down 69% YoY but up 153% QoQ. Operations of the Indian Railways took a major hit in 2020, given the suspension of commercial railway operations in the first quarter of FY21 i.e. from April to June, thanks to the COVID-19 pandemic and related lockdowns. Operations have resumed since in a staggered mann