IRCTC provides authorised online railway ticketing, on-board and station catering, packaged drinking water (Rail Neer), and travel & tourism services across India, operating as the sole permitted digital ticketing platform and exclusive Rail Neer supplier under the Ministry of Railways with government majority ownership and Navratna status.

Q3 FY26 delivered record results with revenue of INR1,449 crore, EBITDA of INR465 crore and PAT of INR394 crore, reflecting year-on-year growth of 18.2% in revenue and 15.5% in PAT driven by strong ticketing, catering and tourism momentum, with EBITDA margins around 32.1% despite a mix shift toward lower-margin operations.

IRCTC retains dominant digital ticketing economics: average daily bookings rose to ~14.64 lakh tickets, 89% of reserved tickets are booked online through IRCTC, UPI share increased to ~50.2%, and internet-ticketing delivered an exceptional EBITDA margin near 85%, underlining very high operating leverage in the core platform business.

Operational expansions are underway: Rail Neer capacity is being doubled at key plants, four greenfield plants approved adding ~25–30% capacity within ~18 months, catering benefitted from ~40 additional trains this quarter and the government’s multi-year Vande Bharat roll-out (~260 sets) offers sustained volume upside for onboard catering.

IRCTC is pursuing payments and cross-sell strategies, having engaged a technology partner for its payment aggregator application and planning a unified portal to monetize non-ticket services; concurrently, material renewable investments (solar and wind totaling ~246 MW) reinforce cost and ESG advantages for the enterprise.