New Delhi, 3 Mar

The government has approved the upgradation of IRCTC and IRFC to Navratna Central Public Sector Enterprises on Monday, an official statement said.

Indian Railway Catering and Tourism Corporation (IRCTC) is a Ministry of Railways CPSE with an annual turnover of ₹4,270.18 crore, PAT (profit after tax) of ₹1,111.26 crore and a net worth of ₹3,229.97 crore for FY 2023-24, the press note said.

It added, “IRFC ( Indian Railway Finance Corporation) is a Ministry of Railways CPSE with an annual turnover of ₹26,644 Cr, PAT of ₹6,412 Cr and a net worth of ₹49,178 Cr for FY 2023-24.”

Congratulating both the CPSEs, Railway Minister Ashwini Vaishnaw posted on X, “Congratulations to team IRCTC and team IRFC on being upgraded to Navratna status.”