ITDC posts significant 8.58 Cr profit in half yearly (2016-17) results

Posted by: at 11/14/2016 04:43:00 am

Registers a noteworthy increase of 100% 

India 14 November 2016: India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a significant performance in half yearly results of the current financial year 2016-17. The total turnover in H1 ending September 2016 increased to Rs.221.34 cr as compared to Rs.205.88 cr in the corresponding H1 last year. The total turnover registered a jump of 7.51% as compared to the same period in last financial year. The company registered Profit Before Tax (PBT) at Rs. 8.58 cr as compared to Rs. 4.28 cr in the corresponding H1 last year i.e. 2016-17, an increase of substantial 100 % as compared to the last financial year.

These details were announced in the Board of Directors’ meeting of the company today on 14th November, 2016 at the Group’s flagship hotel, The Ashok, New Delhi. The momentum generated in last financial year has also continued in first half of the financial year 2016-17. ITDC registered improved  performances in divisions like Hotels, International Trade and Ashok Travel and Tours. Also, The Ashok group of hotels has been in the forefront of innovative marketing initiatives ensuring consistency in sales and occupancy.

Awards and Accolades:
•    Marking successful 50 years of ITDC, the Corporation celebrated Golden Jubilee across all the hotels.

•    Hon’ble Tourism Minister Dr. Mahesh Sharma launched ITDC New Logo marking Golden Jubilee
•    At the 51st AGM ITDC declared a dividend of 15% amounting to Rs.12.86 crore as recommended by the Board in the meeting held on 30th May, 2016. Out of Rs. 12.86 crore, an amount of Rs.11.20 crore has been paid to the Government of India.
•    Hotel The Ashok bagged the award for ‘Best Hotel Based Meeting Venue’ at the coveted National Tourism Awards 2016
•    Chef M U Kasture, Executive Chef-The Ashok has been honored with ‘Best Chef of India’ award at National Tourism Awards 2016
•    Sr. Executive Chef Rajan Loomba won the 13th Annual ICF Golden Hat Award.

•    ITDC was the official event management agency for Bharat Parv, 2016- a week-long celebration of Indian culture, cuisine and unity at Rajpath being organized by Ministry of Tourism.
•    In addition to existing CSR activity at Qutub Minar, the Corporation has also adopted Red Fort and Old Fort as a part of its extended CSR initiative under the aegis of Government of India to provide Swachh Smarak, Swachh Paryatan and Swachh Bharat. ITDC organizes regular cleanliness drives at the monuments’ premises being a responsible Public Sector Undertaking.
•    A new duty free shop under Ashok International Trade Division has been opened at Kakinada Deep Water Seaport, Andhra Pradesh


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