The central government has awarded Navratna status to two public sector companies — Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) — according to posts by the Department of Public Enterprises on X.
With the latest addition, the country now has 26 Navratna companies.
IRCTC, a Central Public Sector Enterprise (CPSE) under the Ministry of Railways, reported an annual turnover of Rs 4,270.18 crore in financial year 2023-24, a profit after tax of Rs 1,111.26 crore, and a net worth of Rs 3,229.97 crore.
Similarly, IRFC, another CPSE under the Ministry of Railways, reported an annual turnover of Rs 26,644 crore, a profit after tax of Rs 6,412 crore, and a net worth of Rs 49,178 crore in FY 2023-24.
Navratna status grants these companies greater operational and financial autonomy, allowing them to make investments of up to Rs 1,000 crore without needing central government approval.