• Revenue growth breakdown: Total revenue increased from 1,160 crore to 1,370 crore, with catering driving 181 crore of the 210 crore delta to reach 732 crore, followed by 361 crore from internet ticketing, 168 crore from tourism, and 109 crore from Rail Neer.
• EBITDA drag factors: Margins were impacted by heavy revenue concentration in low-margin catering (10–12%), a 6 crore raw material cost increase in Rail Neer due to the West Asia crisis, a 20 crore HR gratuity hike, and 4.75 crore in proof-of-concept train costs.
• EBITDA margin target: Management expects to maintain an EBITDA margin of 30% plus going forward, driven by the stabilization of input costs, the non-recurrence of HR expenses, tapering proof-of-concept train costs, and the rollout of new Vande Bharat sleeper trains.
• Website upgrade timeline: Following a beta launch on July 15, the full-fledged IRCTC website is expected to roll out within 15 days or during the quarter, removing all advertisements, captchas, and pop-ups to improve ticket booking speed.