ITDC declares Rs. 22.55cr profit after tax

India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, recorded net profit before tax of Rs.32.42 crore during 2015-16, profit after tax of Rs.22.55 crore and a total turnover of Rs.465.69 crore during the financial year 2015-16. The information was revealed during the Group’s 51st Annual General Meeting at the Group’s hotel, The Samrat, New Delhi. The highlights of the AGM was the declaration of a dividend of 15 per cent amounting to Rs.12.86 crore approximately as recommended by the Board in the meeting held on May 30, 2016. Out of Rs. 12.86 crore, an approximate amount of Rs.11.20 crore will go to the Government of India. The meeting was chaired by Umang Narula, IAS, Chairman & Managing Director, ITDC. The overall occupancy during 2015-16 was 52 per cent as against 47 per cent during 2014-15 with flagship Hotel ‘The Ashok’ recording occupancy of 54 per cent during 2015-16.