IRCTC: Chugging along nicely

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⭐IRCTC: Chugging along nicely 

IRCTC’s revenue from operations jumped by 99% on a yearly basis to ₹806 crore for  the September quarter. Meanwhile its net profit rose by 42% YoY to ₹226 crore. The catering business of the company was one of the key contributors to the overall revenue. It reported a multi-fold increase in revenue to ₹334 crore from ₹71 crore in the same quarter of last year due to resumption of trains and catering services.

⭐Indiabulls Housing Finance: Asset quality slips

The home finance company has reported a 2.94% rise in gross NPAs or bad loans from last year’s 2.69%. Meanwhile, net NPA also inched up to 1.7% from last year’s 1.5%. The company’s revenue from operations also took a hit, dropping to ₹2,229 crore from ₹2,232 crore a year ago. Meanwhile, its net profit grew by 1% YoY to ₹289 crore. 

⭐ Centre ready to include fuel under GST

Union Petroleum Minister Hardeep Singh Puri has said the central government is ready to bring petrol and diesel under the GST regime if state governments agree to the same. The minister pointed out that fuel prices in India had increased only 2% in the last one year. He said the centre had taken a number of steps to combat rising fuel prices, including a cut in excise duty. 

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Fact of the day

Amazon founder and billionaire Jeff Bezos has committed $10 billion to fight climate change. He plans to give away the majority of his wealth amounting to $124 billion.

Source: Times of India