{"id":135340,"date":"2021-10-30T10:21:18","date_gmt":"2021-10-30T04:51:18","guid":{"rendered":"https:\/\/www.caravanalive.com\/?p=135340"},"modified":"2021-11-01T12:32:55","modified_gmt":"2021-11-01T07:02:55","slug":"irctc-share-prices-recover-after-30-fall-as-railway-ministry-withdraws-decision-to-share-convenience-fee","status":"publish","type":"post","link":"https:\/\/www.caravanalive.com\/?p=135340","title":{"rendered":"IRCTC Share Prices Recover After 30% Fall As Railway Ministry Withdraws Decision To Share &#8216;Convenience Fee&#8217;"},"content":{"rendered":"<div class=\"2a6a8c3593e6620bd92d71f585bdd19b\" data-index=\"4\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6453632170035383\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- NEW RESPONSIVE -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6453632170035383\"\r\n     data-ad-slot=\"2960496911\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n\n<p>Indian Railways Catering and Tourism Corporation (IRCTC) faced 30% fall in the share prices. After the reports stating that the company must share revenues earned from convenience fees with the Railway Ministry in 50:50 ratio, this fall in share prices sufficed.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/FC1__I1UcAY5o7T.jpg\" alt=\"\" class=\"wp-image-135341\" width=\"726\" height=\"900\" srcset=\"https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/FC1__I1UcAY5o7T.jpg 726w, https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/FC1__I1UcAY5o7T-242x300.jpg 242w\" sizes=\"auto, (max-width: 726px) 100vw, 726px\" \/><figcaption><em>Railway Ministry withdraws decision to share convenience fee<\/em><\/figcaption><\/figure>\n\n\n\n<p>The company\u2019s shares were down as much as 30% to an intraday low of Rs 639.45. &nbsp;The loss was recovered after the Railway Ministry decided to withdraw its decision to share convenience fee charged by the company to passengers for ticket booking.&nbsp; This resulted in recovery of the loss as IRCTC share prices were down&nbsp;4.87% at Rs 867 apiece, afterwards.<\/p>\n\n\n\n<p>DIPAM Secretary also confirmed this in a tweet that reads as, &#8220;Ministry of Railways has decided to withdraw the decision on IRCTC convenience fee.&#8221; In the pre-pandemic times, Railway Ministry used to share\u00a0convenience fees earned by IRCTC. Due to the pandemic, the ministry had decided not to share convenience fees, keeping interest of shareholders and the company.\u00a0<\/p>\n\n\n\n<p>Also read: <strong><span class=\"has-inline-color has-vivid-cyan-blue-color\"><a href=\"https:\/\/www.caravanalive.com\/rajya-sabha-mp-talks-in-favour-of-allowing-drugs-with-tax\/\" target=\"_blank\" rel=\"noreferrer noopener\">Rajya Sabha MP Talks In Favour Of Allowing Drugs With Tax<\/a><\/span><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/IRCTC-Shares-Recover_1200x768.jpg\" alt=\"\" class=\"wp-image-135342\" width=\"841\" height=\"473\" srcset=\"https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/IRCTC-Shares-Recover_1200x768.jpg 770w, https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/IRCTC-Shares-Recover_1200x768-300x169.jpg 300w, https:\/\/www.caravanalive.com\/wp-content\/uploads\/2021\/10\/IRCTC-Shares-Recover_1200x768-768x432.jpg 768w\" sizes=\"auto, (max-width: 841px) 100vw, 841px\" \/><figcaption><em>IRCTC shares recover the loss of 30%<\/em><\/figcaption><\/figure>\n\n\n\n<p>A greater part of IRCTC\u2019s revenue is earned from convenience fees. Sharing 50% of it would have dented a huge impact on the revenues. Indian Railways has authorised IRCTC to facilitate the booking of tickets, provide catering services and packaged drinking water in trains and railways stations.<\/p>\n\n\n\n<p>The company will be reporting the September-end quarter earnings on November 1<sup>st<\/sup> 2021. In the previous quarter, the revenue was down by 23% in net profit. In the March-end quarter, railway ticketing business grew 9.5%&nbsp;on a year-over-year basis to Rs 212 crore.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Indian Railways Catering and Tourism Corporation (IRCTC) faced 30% fall in the share prices. After the reports stating that the company must share revenues earned from convenience fees with the Railway Ministry in 50:50 ratio, this fall in share prices sufficed. The company\u2019s shares were down as much as 30% to an intraday low of [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":135344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[{"category_id":2,"category_link":"https:\/\/www.caravanalive.com\/?cat=2","category_name":"Business"},{"category_id":207,"category_link":"https:\/\/www.caravanalive.com\/?cat=207","category_name":"Finance"},{"category_id":156,"category_link":"https:\/\/www.caravanalive.com\/?cat=156","category_name":"India"},{"category_id":511,"category_link":"https:\/\/www.caravanalive.com\/?cat=511","category_name":"Latest News"},{"category_id":137,"category_link":"https:\/\/www.caravanalive.com\/?cat=137","category_name":"News"}],"tags":null,"class_list":["post-135340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","category-india","category-latest-news","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - 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