Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) reported a strong set of numbers for the third quarter of FY26, with steady growth in profit and revenue across business segments. The railway PSU posted double-digit growth in earnings, declared an interim dividend, and showed expansion across catering, tourism, and ticketing services.
For the quarter ended December 31, 2025, Indian Railway Catering and Tourism Corporation Ltd (IRCTC) reported a consolidated net profit of ₹394.33 crore. This marks a 15.6% year-on-year (YoY) increase compared to ₹341.09 crore reported in the same quarter last year. The growth reflects strong operational momentum and improved demand across core segments.
Revenue from operations rose 18.36% YoY to ₹1,449.47 crore, up from ₹1,224.66 crore in Q3 FY25. The company benefited from increased travel activity, higher catering demand, and steady growth in online ticket bookings. The strong revenue growth shows that passenger volumes and tourism demand remained healthy during the quarter.
Operating profit, measured by EBITDA, came in at ₹465 crore, registering an 11.73% YoY increase from ₹417 crore a year ago. However, EBITDA margin declined to 32.11% compared with 34.02% in Q3 FY25. The margin compression suggests that operating costs increased at a faster pace than revenue growth. Higher input costs in catering and tourism services may have contributed to the decline in margins.
Segment-wise performance remained broad-based. The catering business, which remains IRCTC’s largest contributor, reported revenue of ₹661.43 crore, up 19.22% YoY. Growth in train catering services and onboard meal demand supported this segment. The internet ticketing segment generated ₹400.63 crore in revenue, reflecting a 13.26% YoY increase. Convenience fee collections and rising online bookings continued to drive this vertical.
The tourism segment emerged as one of the strongest performers, recording a 29.29% YoY growth to ₹289.27 crore. Increased demand for domestic tour packages, pilgrimage circuits, and charter services boosted revenue. Meanwhile, Rail Neer, the packaged drinking water business, posted revenue of ₹102.75 crore, up 6.63% YoY, showing steady but moderate growth.
In a move that will please income-focused investors, the board declared a second interim dividend of ₹3.50 per equity share for FY26. With a face value of ₹2 per share, this translates to a 175% dividend payout. The record date for determining eligible shareholders has been fixed as February 20, 2026. The dividend reflects the company’s strong cash flows and stable financial position.
On the stock market, IRCTC shares closed slightly lower at ₹622 per share on the National Stock Exchange (NSE) on the day of the results announcement. Despite solid financial performance, the minor decline suggests that the results may have been largely priced in or that broader market sentiment influenced trading activity. The company’s market capitalisation stood at approximately ₹49,760 crore at the time.
Overall, IRCTC delivered a solid quarter with healthy growth in profit and revenue. While margins faced slight pressure, the company continues to show strong fundamentals supported by diversified revenue streams. With steady demand in travel, catering, and tourism, IRCTC remains a key player in India’s railway services ecosystem.