New Delhi | The government has approved the upgradation of IRCTC and IRFC to Navratna Central Public Sector Enterprises on Monday, an official statement said.

Indian Railway Catering and Tourism Corporation (IRCTC) is a Ministry of Railways CPSE with an annual turnover of ?4,270.18 crore, PAT (profit after tax) of ?1,111.26 crore and a net worth of ?3,229.97 crore for FY 2023-24, the press note said.

It added, “IRFC ( Indian Railway Finance Corporation) is a Ministry of Railways CPSE with an annual turnover of ?26,644 Cr, PAT of ?6,412 Cr and a net worth of ?49,178 Cr for FY 2023-24.” Congratulating both the CPSEs, Railway Minister Ashwini Vaishnaw posted on X, “Congratulations to team IRCTC and team IRFC on being upgraded to Navratna status.”