The Indian Railway Catering and Tourism Corporation (IRCTC) announced a 167.41 percent year-on-year (YoY) increase in net profit for the December quarter at Rs 208.80 crore on Tuesday.
In the same quarter last year, the government-owned firm made a net profit of Rs 78.08 crore.
Similarly, the company’s profit increased sequentially from Rs 158.57 crore at the end of the September 2021 quarter.
Its operating revenue for the period under review was Rs 540.21 crore, up 140.7 percent from Rs 224.37 crore at the end of the previous quarter On a year-over-year basis, overall expenses jumped to Rs 275 crore from Rs 141 crore.
For the financial year 2021-22, the business additionally paid an interim dividend of Rs 2 per share on equity shares with a face value of Rs 2. The record date for the payment of the interim dividend has been set at February 18.
“The global and Indian pandemic of Covid-19 is creating major disruption and slowing of economic activity. However, the company’s operations are progressively returning to normal, thanks to the easing of restrictions imposed by the state and federal governments “In a BSE filing, the company stated.
The IRCTC has been chastised for failing to protect the privacy of passenger data collected for bookings and travel, and there have been multiple reports of data leaks and exposures, as well as concerns that passenger data has been used by the government to send demographically targeted promotional content.
Maharashtra cyber police officers detected a possible loss of personal information belonging to 10 million passengers in 2016. The IRCTC denied the breach, but a committee made up of officials from the IRCTC and the Centre for Railway Information Systems (CRIS) was formed to look into it.
Officials from the IRCTC maintained that the reports were false and that no “important” passenger data had been leaked. Data that IRCTC had shared with other parties, such as hotels, taxis, and food delivery businesses, had been exposed, according to an IRCTC official.
Avinash Jain, a security researcher, stated in 2018 that IRCTC’s free travel insurance policy, which caused users on their app to be sent to a third-party insurer, had exposed the details of about 200,000 passengers for two years.
IRCTC ended the insurance program and corrected the vulnerability that had exposed this information.
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