Ministry of Railways withdraws convenience fee decision on IRCTC

[Rajkumar]

NEW DELHI: Ministry of Railways on Friday withdrew its proposal to seek 50 per cent of the convenience fee that IRCTC generates. The fresh development comes after IRCTC stock took a dive earlier in the day, falling over 25 per cent on fears of derating amid regulatory risks.

Ministry of Railways withdraws convenience fee decision on IRCTC; stock recovers

The Street expects about 433 million tickets to be sold via IRCTC in FY23 and a 50 per cent convenience fee would have hit Ebit estimates by about 30 per cent for FY23 and FY24.

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