Recently awarded with “Fastest Growing Mini Ratna PSU” award for 2015; India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism; posted a strong performance for the financial year 2015-16. The corporation recorded a turnover of Rs 465.69 crore whereas, profit before tax (PBT) stood at Rs 32.42 crore and profit after tax (PAT) was recorded at Rs 22.55 crore.
Umang Narula, CMD, ITDC, said, “FY 2015-16 has been a motivating year for ITDC. The profit is the result of several proactive initiatives taken by the organisation to improve productivity and efficiency at the beginning of the year. The organisation took all necessary steps to keep the operational cost under control and to ensure that every division endeavours towards the profit making journey of the organisation.”
“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 three consecutive years,” added Narula.
The hotels division, Ashok International Trade division and Ashok Events division of ITDC were other contributors to the profit for FY 2015-16.
All three Delhi based hotels – The Ashok, Samrat and Janpath – showed clocked net profits. Hotel Patliputra Ashok, Patna and Lalitha Mahal Palace Hotel, Mysore also made profit. Other hotels of the corporation also showed improved performance during the year.
