IRCTC Q1 PAT rises 7% YoY to Rs 331 cr
Profit before tax (PBT) stood at Rs 442.13 crore in Q1 FY26, marking a 7.35% year-on-year increase.
Total expenses rose 2.55% to Rs 778.73 crore in Q1 FY26 over Q1 FY25. During the quarter, the cost of materials consumed stood at Rs 17.82 crore (down 2.76% YoY), while employee benefits expense was at Rs 75.74 crore (up 1.73% YoY).
On the segmental front, catering was at Rs 546.78 crore (down 2.16% YoY), revenue from rail neer was at Rs 110.49 crore (down 0.87% YoY), internet ticketing stood at Rs 358.75 crore (up 9.01% YoY) and revenue from tourism was at Rs 147.68 crore (up 20.74% YoY) during the quarter.
Indian Railway Catering and Tourism Corporation (IRCTC) is an Indian public sector undertaking that provides ticketing, catering, and tourism services for the Indian Railways.
Shares of Indian Railway Catering and Tourism Corporation shed 0.48% to Rs 724.05 on the BSE.
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First Post
13 minutes ago
- First Post
From rupyarupa to rupee: Tracing the history of the Indian currency
India is all set to celebrate its 79th Independence Day this year. The journey of the rupee has reflected the evolution of the country – its history, culture, tradition and economy. Let's take a closer look The journey of the rupee has reflected the evolution of India – its history, culture, tradition and economy. Reuters India is all set to celebrate its 79th Independence Day this year. As the years have gone by, so has the mighty Indian rupee changed with the passage of time. The journey of the rupee has reflected the evolution of the country – its history, culture, tradition and economy. Let's take a closer look at the history of the Indian rupee. The rupee in ancient times The word rupee comes from the Sanskrit word rūpya (wrought silver). The rupee is mentioned in ancient texts, including those of Panini, a Sanskrit writer in the 5th Century BCE. Panini used the word rūpa to refer to a silver coin. Ancient Indian kingdoms in the 6th century also had their own forms of currency that were the forerunners of the rupee. The Mahajanapadas of Gandhara, Kuntala, Kuru, Panchala, Shakya, Surasena, and Saurashtra all issued their own currency. STORY CONTINUES BELOW THIS AD While these were made of silver and had a set weight, they came in all shapes and sizes and with different. Coins from Saurashtra bore a humped bull, Dakshin Panchala stamped a Swastika, and Magadha went in for a variety of symbols. Chanakya, in his famed Arthashastra, mentions how the Mauryas under the great Emperor Chandragupta Maurya minted coins such as rupyarupa (silver) suvarnarupa (gold), tamararupa (copper) and sisarupa (lead). Chanakya, in his famed Arthashastra, mentions how the Mauryas under the great Emperor Chandragupta Maurya minted coins like rupyarupa (silver). Wikimedia Commons It was Sher Shah Suri, after defeating Mughal emperor Humayun, who standardised the rupiya. Suri, during his reign from 1540 to 1545, issued a silver coin weighing 11.5 grams. The name was kept out of respect for India's heritage. Though the British East India Company had already set up in India and even attempted to introduce the sterling pound, the rupiya's popularity remained unrivalled. Indeed the rupiya remained in circulation during the Mughal reigns, the era of the Marathas and in British India – a testament to Suri's organisational skills and the enduring power of the currency. By 1671, the British East India Company had given in. It began minting coins in the local style – using the rupiya. However, the value of the currency was not standard across India – which naturally created problems. In British India and more modern times It took till 1835 for the law to standardise the minting of the rupee. This came after the British colonial government passed the Paper Currency Act of 1861. Each rupee was split into 16 annas, which in turn were split into four pice (paise) each. So, one rupee equated to around 64 pice (paise). STORY CONTINUES BELOW THIS AD India continued to use silver and gold as currency till the 18th Century. However, the influx of European trading firms and the establishment of the banks resulted in the first paper currency being printed. The Bank of Hindostan (1770– 1832) in Calcutta, the General Bank of Bengal and Bihar (1773–75), and Bengal Bank (1784–91), all issued their own forms of paper currency. This is when the use of paper notes rather than coins began taking hold. The British colonial government forbade private banks from issuing their own currency. The Bank of England would take over responsibility for printing all of India's currency notes for the next hundred years or so. It introduced paper notes in the denominations of Rs 10, Rs 20, Rs 50, Rs 100, and Rs 1,000. This currency, known as the 'Victoria Portrait' series, depicted a small image of the British Queen on the top left. However, the denomination could only be used in certain areas known as 'currency circles' – Calcutta, Bombay, Madras, Rangoon, Kanpur, Lahore, and Karachi. These were unifaced, carried two language panels and were printed on hand-moulded paper. STORY CONTINUES BELOW THIS AD This currency, known as the 'Victoria Portrait' series, depicted a small image of the British Queen on the top left. Wikimedia Commons In 1867, the Victoria Portrait series was withdrawn due to forgeries and replaced by the Underprint series. From 1903 to 1911, Rs 5, Rs 10, Rs 50 and Rs 100 were universalised. The British government then introduced the 'King's Portrait' series – beginning with George V in 1923. It was only in 1928 that India set up its first currency printing press in Nasik. In 1935, the Reserve Bank of India was established, which finally took responsibility for handling India's money. The RBI continued in much the same vein as the Bank of England. Its first currency note, a denomination of Rs 5, was issued three years later in 1938. It bore a portrait of King George VI. The RBI also introduced denominations of Rs 10, Rs 100, Rs 1,000 and Rs 10,000. It also reintroduced the Rs 1 note, which had been first brought out in 1917 due to the first World War and discontinued in 1926. In March 1943, the Rs 2 note would follow. STORY CONTINUES BELOW THIS AD Post-Independence period After Independence, India found itself making a fresh start. However, it retained the currency and coins from the earlier period for a few years. At this time, 1 Rupee was 16 Annas, 1 Anna was 4 Pice and 1 Pice was 3 Pies. India kicked off its new series on August 15, 1950. There had been some arguments about Gandhiji's face replacing the King's. However, it was not to be. Instead, it was the Lion Capital of the Ashoka Pillar that replaced George VI. The tiger was replaced by the corn sheaf. However, the value of the coinage remained unchanged. It was only in 1957 that India adopted the decimal system. The rupee was now defined as 100 naya paise instead of 16 Annas. In 1964, Naya was dropped entirely. The Reserve Bank has now introduced a central bank digital currency (CBDC) – also known as an e-rupee It was only in 1969 that Gandhiji's face began being printed on currency notes of the denomination of Rs 2 and higher. Gandhiji would also feature on currency notes issued in 1996 of Rs 10 and Rs 500 – a replacement for the Lion Capital – and in 2005. New 50 paise, Rs 1, Rs 2 and Rs 5 stainless steel coins were also introduced. In 2010, the new symbol ₹ was introduced – a combination of the Latin letter R and the Devanagari letter र (ra). STORY CONTINUES BELOW THIS AD The Reserve Bank has now introduced a central bank digital currency (CBDC), also known as an e-rupee. It has also hinted that it is looking at cross-border pilot projects. It remains to be seen where the rupee will go in the age of cryptocurrency. With inputs from agencies
Indian Express
13 minutes ago
- Indian Express
Next-generation GST reforms by Diwali, tax burden to come down for MSMEs, PM Modi says
The government is set to target the next big phase of reforms under the Goods and Services Tax (GST) regime by Diwali, Prime Minister Narendra Modi said in his Independence Day speech on Friday. Tax burden for smaller businesses and common people is going to be reduced as the government looks at reducing rates on daily-use items and removal of the 12 per cent slab. 'This Diwali, I am going to make it a double Diwali for you…we have undertaken a big reform of GST over the last eight years. We reduced the burden of tax across the country…eight years later, time demands that we review it. We started the review through the formation of a high-powered committee, held discussions with states,' Modi said. 'We are coming with next generation GST reforms by this Diwali,' he said, adding that tax burden will be reduced significantly, and MSMEs will benefit greatly. Sources said multiple meetings of the GST Council, the overarching federal body with members from both the Centre as well as states, will be held in the run-up to Diwali since decisions involving rate reductions that could potentially result in revenue losses will need to be discussed threadbare. The last meeting was held in December 2024. The government is looking at reducing the multiplicity of rates as well as public welfare services such as health and life insurance. The proposal to do away with the 12 per cent slab would involve shifting some items to the lower 5 per cent slab, and some others to the higher 18 per cent slab. Though this would simplify the multiple rate structure, it is estimated to result in significant revenue losses of Rs 70,000-80,000 crore for the Centre and states combined, The Indian Express had reported last month. In its last meeting held in Jaisalmer in December 2024, the GST Council had held discussions on lowering rates on several items. However, it decided to defer a key decision to lower the tax rate on health and life insurance premiums. The potential revenue losses from the major tweaks in GST rates are likely to be met by resistance from states as it may strain their fiscal health. This rate rationalisation proposal has been unpalatable to many states, both BJP-ruled and Opposition, as several attempts to simplify or reduce rates on consumer-focused items were stalled earlier in the GST Council. To build consensus and resolve contentious outstanding issues, Union Home Minister Amit Shah is learnt to have initiated discussions with all stakeholders — states as well as Central ministries, The Indian Express had reported last month. GST, the biggest indirect tax reform in recent years, was introduced in July 2017. But it is riddled with a multiplicity of rates — zero, 5 per cent, 12 per cent, 18 per cent and 28 per cent, in addition to the cess rates for luxury and sin goods, and special carve outs for precious metals. The GST rate rationalisation has been talked about for over four years now. In its 45th meeting held in September 2021 in Lucknow, the GST Council discussed the need to undertake rate rationalisation including correction of inverted duty structure, to reduce classification related disputes, and enhance GST revenues. The Council then approved changes in GST rates to correct inverted duty structure in many sectors, including textiles and footwear that were brought into effect from January 2022.
News18
22 minutes ago
- News18
Tofler: How a Vision for Transparency Transformed Indias SME Ecosystem
PNNNew Delhi [India], August 15: In a significant milestone for India's entrepreneurial ecosystem, Anchal Agarwal, Co-founder and CEO of Tofler, has been recognized in ET Now's prestigious 40 Under 40 India: The Young Leaders Shaping the Future of Tomorrow. This accolade reflects not only her leadership but also Tofler's mission to revolutionize business transparency and decision-making for India's seeds of Tofler were sown in 2013, sparked by a simple yet powerful observation: while banks, large investors, and consulting firms had access to structured financial data, India's vast SME sector was navigating growth in darkness, struggling with incomplete and unstructured company information. It was clear that small and medium enterprises, the backbone of the Indian economy, lacked a platform that understood their unique alongside her co-founder Parijat, envisioned a platform that could bridge this gap–providing SMEs with the same level of actionable insights and transparency that large corporations leveraged for growth. Thus, Tofler was born, with a mission to build trust, transparency, and a level playing field for businesses across the years, Tofler has evolved into India's leading SME diligence platform, empowering businesses, founders, and investors with in-depth financial insights on private Indian companies. Through its innovative Finder Tool, Credit Analysis, and Benchmarking features, Tofler helps businesses unlock growth opportunities, minimize risk, and improve profitability. Today, the platform boasts over 2,000 active daily users with an impressive 90% renewal rate, reflecting the value it delivers in the day-to-day operations of Indian Impact at ScaleTofler's contribution to India's economy is evident in the numbers:-Access to 10 million business profiles-62-point risk analysis per company-Insights across 1,200+ industry sub-segments-Deep analysis into 9,000 product categoriesWhether it is a founder seeking to discover new customers, a CFO benchmarking their company's performance, or an investor assessing risk, Tofler has become the platform of choice, trusted even by India's leading media firms for accurate, real-time financial India's Transparent Business FutureFor Anchal, the recognition from ET Now is a reminder of the journey that started with a commitment to empower India's SMEs with the tools they need to grow smartly and sustainably. 'We believe that trust and transparency are the foundation of a thriving economy. Tofler was built to ensure that every SME, regardless of size, has the information they need to make confident, data-backed decisions," Anchal a fast-evolving business environment, Tofler continues to innovate, ensuring that its clients stay ahead of their competition with actionable intelligence. As India's SME ecosystem matures, platforms like Tofler are not just facilitating growth but are shaping a transparent, resilient, and confident new India.(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
