A significant disruption on the Indian Railway Catering and Tourism Corporation’s (IRCTC) e-ticketing platform caused its shares to fall 1.4% to Rs 778.80 on the BSE. Travelers posted screenshots of error messages suggesting “maintenance activity” in progress on social media to voice their concerns about online ticket booking.
What Happened?
The Indian Railway Catering and Tourism Corporation (IRCTC) had a significant outage on Thursday, which prevented thousands of users from purchasing train tickets. Since IRCTC’s platform is utilized by millions of travelers throughout India to book railway tickets, the interruption was substantial.
The problem was reported on social media by irate tourists, many of whom posted screenshots of error messages, such as “Unable to perform action due to maintenance activity.” The reason for the outage and the anticipated time of platform restoration have not yet been disclosed by IRCTC. More than 2,000 customer complaints were logged by the well-known service monitoring website Downdetector during the outage.
IRCTC Financial Performance
In terms of finances, IRCTC declared a net profit of Rs 307.8 crore for the current fiscal year’s July–September quarter (Q2). This was 4.5% more than the Rs 294.7 crore profit from the previous year. In Q2FY25, IRCTC’s revenue climbed to Rs 1,123 crore, representing an 8.1% year-over-year (Y-o-Y) growth. Earnings before interest, taxes, depreciation, and amortization, or EBITDA, increased 1.7% year over year to Rs 372.79 crore, which was essentially flat.
About the Company
Indian Railway Catering and Tourism Corporation Limited, or IRCTC, is a Miniratna (Category-I’ Central Public Sector Enterprise) that was established in 1999. In order to improve, oversee, and professionalize the food and hospitality services at stations, trains, and other locations, Indian Railways established it as a public limited company. At first, IRCTC was wholly owned by the Government of India and operated under the administrative direction of the Ministry of Railways. However, the corporation made its first public offering in 2019 in accordance with the government’s plan to disinvest its stake in IRCTC.
