Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) on Monday announced that it has signed a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation (DMRC) under the One India-One Ticket initiative.
According to the MoU, the IRCTC platform will provide QR code-based DMRC tickets to commuters of the Delhi Metro.
This initiative is set to benefit passengers of both IRCTC and DMRC by streamlining the travel experience and reducing the time spent in queues at stations.
DMRC already provides QR code-based tickets to Metro commuters through the DMRC Travel App. Passengers can buy tickets through the app by entering details like source, destination, and number of passengers and make online payment for the same.
After the payment, passengers get the QR code / tickets on their registered mobile phone number. They can present the same QR code on the gate scanner to make entry and exit.
The MoU now allows IRCTC to issue QR code-based Delhi Metro tickets through its platform as well, which will especially benefit outstation passengers who are visiting Delhi and planning to use the Metro services.
Last week, Indian Railways-owned IRCTC reported a 7 percent year-on-year decline in net profit to Rs 231 crore for the first quarter ended June 2023 (Q1FY24).
Total revenue during the quarter stood at Rs 1,001.8 crore, 17.5 percent higher than Rs 852.6 crore in the corresponding period of the previous fiscal year.
Shares of IRCTC ended 2 percent lower at Rs 649.2. The stock is up 1 percent this year, underperforming all of its railway-related peers.
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