New Delhi: The Government has approved the upgradation of IRCTC and IRFC to Navratna Central Public Sector Enterprises on Monday, an official statement said.
Indian Railway Catering and Tourism Corporation (IRCTC) is a Ministry of Railways CPSE with an annual turnover of Rs 4,270.18 crore, PAT (profit after tax) of Rs 1,111.26 crore and a net worth of Rs 3,229.97 crore for FY 2023-24, the press note said.
It added, “IRFC ( Indian Railway Finance Corporation) is a Ministry of Railways CPSE with an annual turnover of Rs 26,644 crore, PAT of Rs 6,412 crore and a net worth of Rs 49,178 crore for FY 2023-24.”
Congratulating both the CPSEs, Railway Minister Ashwini Vaishnaw posted on X, “Congratulations to team IRCTC and team IRFC on being upgraded to Navratna status.”
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)