Indian Railway Catering And Tourism Corporation Limited (IRCTC) — Board Meeting | 13 August 2025(2 announcements)

IRCTC's Board approved initiating winding-up proceedings against Royale Indian Rail Tours Limited (RIRTL), its 50-50 joint venture with Cox & Kings, under the Companies Act, 2013. RIRTL ceased operations in 2011 following disputes and has been dormant for over 13 years with no Board meetings, financial filings since 2010-11, or revenue generation. An arbitration dispute was resolved in August 2023. IRCTC confirmed no material operational or financial impact from the non-functioning JV.

IRCTC's Board approved Q1 FY2025-26 unaudited results (quarter ended June 30, 2025) with total segment revenue of ₹116,372.38 lakhs and profit before tax of ₹44,179.90 lakhs. Key segments: Catering ₹54,678.13 lakhs, Internet Ticketing ₹35,875.33 lakhs, Tourism ₹14,759.83 lakhs, and Railneer ₹11,049.09 lakhs. The company faces material legal contingencies including a ₹7,471.65 lakhs arbitration award to licensees escalated to Supreme Court, a ₹5,041.44 lakhs anti-profiteering notice pending with Competition Commission, and Railway Board licensing disputes across four high courts. Auditors issued a clean review without identifying misstatements.