- 8 Feb 2016
- Reaction score
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.
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.