Govt asks IRCTC to share 50% of revenue from convenience fee

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IRCTC share price, IRCTC, IRCTC shares, IRCTC news, IRCTC shares price today

MUMBAI: The Ministry of Railways has through a letter asked Indian Railways Catering and Transportation Corporation to share 50 per cent of the revenue from the convenience fee with it, the company said today in an exchange filing.

So far,

IRCTC

kept 100 per cent of the convenience fee it charged customers for providing various services with itself.

As per IRCTC’s website, income from the convenience fee is recognized on the basis of the value of the convenience fee earned on the tickets booked by domestic customers through its website.

Analysts believe that this spark a near 50 per cent cut in the earnings of IRCTC since the majority of its revenues come from internet ticketing services.

Shares of IRCTC ended nearly 12 per cent higher at Rs. 923 on the National Stock Exchange.

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