WHEN RAJNI HASIJA took additional charge as the Chairperson and Managing Director of the Indian Railway Catering and Tourism Corporation (IRCTC) in February 2021, the public sector undertaking (PSU) was reeling from the body blow of the pandemic like other entities in the travel and tourism sector.
No stranger to the IRCTC, she had served two terms at the PSU in the capacity of Group General Manager, handling the IT business segment, and being overall incharge of an entire zone. She also played a pioneering role in the inception and development of the internet ticketing site of the railways, www.irctc.co.in.
But those stints did not prepare her for the unprecedented challenges facing IRCTC-which focusses on rail ticketing, catering, tourism, and bottled water product Rail Neer-in 2021. "When I signed my first balance sheet as CMD, the total revenue from operations had fallen to ₹783.05 crore in FY21 from ₹2,264.31 crore in FY20, due to the pandemic. But we took it as a challenge, and the IRCTC team worked upon it, and the next two balance sheets were very good and [showed] remarkable performance," recalls Hasija, who superannuated on May 31, 2023, after holding additional charge as CMD of the PSU for a little more than two years. She was also Director (Tourism and Marketing) at IRCTC for five years.
The recovery was remarkable. IRCTC posted an 88.5% jump in its revenue from operations to ₹3,541.47 crore in FY23, the highest ever, compared with ₹1,878.57 crore in FY22. Net profit also jumped 52.5% year-on-year to ₹1,005.88 crore. The key contributor to revenue in FY23 was the catering business with 41.69%, followed by e-ticketing at 33.83%, tourism at 15.98%, and Rail Neer at 8.5%. Return on equity in FY23 was a solid 46%.
Denne historien er fra March 17, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 17, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
"Focus on the challenge of each customer"
SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company
PEDAL ON THE FUTURE
THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY
BREATHE EASY
Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference
The Taste of India in a Glass
FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN
LOOK BEFORE YOU LEAP
IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES
MISSING ADVISORS
INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE
TURNING A CORNER
SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE
REALITY CHECK
INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?
TRUMP'S TRADE TANGO
The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?
"The essence of the Trump administration will be transactional”
Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more