IRCTC asked to share 50% convenience fee with Ministry of Railways
The Hindu
Following the announcement, IRCTC shares have fallen 20%.
The Indian Railways Catering and Tourism Corporation (IRCTC) has said that the Ministry of Railways has asked the company to share 50% of the revenues earned by it from convenience fee, next month onwards.
Following the announcement, which can on Thursday, the company's shares were trading 20% lower at ₹731/share on the BSE at 10:00 am on Friday.
“...it is to be informed that Ministry of Railways...has conveyed its decision to share the revenue earned from convenience fee collected by IRCTC in the ratio of 50: 50 w.e.f 1st November 2021,” the company said in a filing to the stock exchange.
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