The loss of RS 18,000 crore of government during the market cap due to the pursuit of RS 200 crore in revenue

IRCTC INDIA

IRCTC INDIA

The stock market on Monday morning, the share price of (IRCTC), the Indian Railways Catering and Tourism Corp, went on to fell down by 25% to ₹685.35. During this process the company went on to lose around 18,000 crore of the market capitalization in jusy one night. Just in a jiffy. The government wanted to earn RS 150- 200 crore. From the IRTC. The IRTC had short itself as it went on to decide to share 50% of the convenience fee it earns with the Indian Railways.

The company furthermore earns this fee upon the railway tickets that are booked through the www.irctc.co.in . as of now it charges a convenience fee of RS 30, on one ticket for the AC booking, and RS 15 on the non-ac bookings. If these bookings are made through the BHIM/UPI mode, the charges are ₹20 per ticket and ₹10 per ticket, respectively.

This convenience fee has been a major money spinner for the company. In 2020-21 this was hugely affected and has a bad impact due to the Covid-19 Pandemic. But still IRCTC has made ₹299 crore from convenience fee on railway tickets or around 38.2% of gross revenue from operations, which in turn stood at ₹783 crore.The earnings of IRCTC in 2019-20 from the inconvenience fee has been around RS350 crore and furthermore it is formed around 15.4% regarding the gross revenue from the operations, which was around RS2, 264 crore.

It is clear that the Convenience fees has been a very important mode of earning for IRCTC. Apart from this one thing which is important is that IRTC is not required to spend much more for the earning of the revenue. Looking upon the income regarding the convenience fees over the last couple of years, the Railways of India will be earning around RS 150- 200 per year. With this small change with the comparison,the company’s market capitalization or the total value of its shares, fell by ₹18,272 crore or around ₹18k crore. This was because the company’s share price dropped by 25% to ₹685.35.           

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