DMRC to offer QR code-based Delhi Metro tickets on IRCTC platform | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Companies / News/  DMRC to offer QR code-based Delhi Metro tickets on IRCTC platform
BackBack

DMRC to offer QR code-based Delhi Metro tickets on IRCTC platform

IRCTC signs agreement with DMRC for QR code-based metro tickets. IRCTC Q1 profit declines 5% YoY.

IRCTC and Delhi Metro Rail signed a MoU for QR code-based DMRC tickets. Premium
IRCTC and Delhi Metro Rail signed a MoU for QR code-based DMRC tickets.

The Indian Railway Catering and Tourism Corporation (IRCTC) on Monday inked an agreement with Delhi Metro Rail Corp to provide QR code-based metro tickets through its platform. The initiative is set to benefit the passengers of both IRCTC and DMRC. 

“Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that IRCTC has signed a MoU with Delhi Metro Rail Corporation (DMRC) on August 14, 2023 for providing QR code based DMRC tickets through IRCTC Platform," IRCTC said in the press release. 

It further read, “This innovative initiative is set to benefit passengers of both IRCTC and DMRC by streamlining the travel experience and reducing the time spent in queues at stations."

The announcement came after IRCTC announced the results for the first quarter of the current financial year. The profit stood at 232.22 crore with a decline of 5% on a year-on-year(YoY) basis. The company's profit in the fourth quarter of the last financial year was at was 279 crore.

On segment-wise performance, IRCTC's revenue from the internet ticketing business declined 4 percent to 290 crore in the April-June quarter, from 302 crore during the same period the previous year. 

The revenue from the tourism business rose 58 percent to 130 crore in the June quarter, up from 82 crore in the corresponding period last year.

The revenue from the catering segment rose 35 percent to 471 crore during the June quarter, compared to 352 crore in the year-ago period. Also, revenue from the rail near segment rose 10 percent to 96 crore in the quarter under review against 87 crore in the last-year period.

Revenue from operations during the June quarter stood at 1,001 crore, registering a growth of 17 percent, compared to 852.6 crore in the year-ago period.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 14 Aug 2023, 02:44 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App