ITDC records Rs. 12.05 cr profit, ups turnover by 6.32%

India Tourism Development Corporation (ITDC) has posted a growth of 6.32 per cent with a total turnover at Rs 495.14 crore as compared to Rs. 465.69 crore in last financial year. Revenue from operations stood at Rs. 473.15 crore as compared to Rs. 437.13 crore in the last fiscal. Corporation posted profit before tax (PBT) of Rs.17.52 crore and profit after tax (PAT) of Rs.12.05 crore in 2016-17 against Rs. 32.42 crore and Rs. 22.55 crore respectively in the previous year. The results were announced in the Board Meeting held on May 30, 2017, at the Group’s flagship hotel, The Ashok, New Delhi. Piyush Tiwari, Officiating Chairman & Managing Director and Director (Commercial & Marketing), India Tourism Development Corporation (ITDC), said, “FY 2016-17 has been a motivating year for ITDC as it was the golden jubilee year for the organisation. The profit is result of several proactive initiatives taken by the organization to improve productivity and efficiency at the beginning of the year. Besides posting continuous profit year after year, ITDC has maintained its status of Mini Ratna and its commitment towards the shareholders through announcing consistent dividends for last four consecutive years.”
Hotel The Ashok, Ashok International Trade division and Ashok events division of ITDC were other contributors to the profit for FY 2016-17. The Ashok hotel posted a highest ever turnover amounting to Rs. 152.91 crore.