According to media reports, Railway ticketing and catering giant Indian Railways Catering and Tourism Corporation (IRCTC) has tendered for consultants to monetise digital assets.

These digital assets mentioned in the tender include railway ticketing data, user base and transactions related to passenger travel. The goal of IRCTC is to increase revenue by monetising its digital assets. IRCTC may hire consultants within 1-2 months.

IRCTC issued a similar letter of intent in 2019. The company is once again attempting an initial exploration of the scope of digital asset monetisation. Therefore, the same consultants are hired.

According to a report by Hindu Business Line, IRCTC envisions generating a revenue potential of Rs 1,000 crore through monetising its digital assets.

Notably, its internet ticketing segment’s revenue share fell to 35.4% in the April-June period from 42.3% in the previous three months.

IRCTC reported that its total revenue for the April-June period rose 3.5 times compared to the same period last year — thanks to growth in businesses other than internet ticketing. The company’s quarterly profit margin fell 820 basis points compared to the same period in FY22. The company’s profit margins have been gradually declining.

Shares of IRCTC were at Rs 685.2 at 2.52 pm, up 2.25% from the previous close on the BSE.

A company can also amend its articles of association, which set out the company’s rules of operation and determine its purpose. According to an analyst call from the public sector railway company, it may also apply to the Reserve Bank of India (RBI) for a paid license.