Steady Tracks: IRCTC Posts Modest but Stable Q1 FY26 Growth

IRCTC has delivered a measured performance in Q1 FY26, with incremental YoY gains across the board: Sales: ₹1,160 Cr, up 4% YoY – steady top-line growth, though sequentially lower from ₹1,269 Cr in Mar’25. EBIDT: ₹397 Cr, up 6% YoY – operating margins remain robust. Net Profit: ₹330 Cr, up 8% YoY – profit expansion outpacing revenue growth, signalling efficiency gains. EPS: ₹4.13, up 7% YoY – consistent earnings per share rise. At a market cap of ₹57,984 Cr and P/E of 44.4, IRCTC trades at a premium, reflecting its near-monopoly in online railway ticketing and catering. The quarter shows resilience in profitability despite sequential revenue dip, and the company remains a defensive play in India’s travel infrastructure story.