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ITDC posts Rs. 12.05 cr profit for another consecutive year; turnover increases by 6.32% in FY 2016-17

ITDC posts Rs. 12.05 cr profit for another consecutive year; turnover increases by 6.32% in FY 2016-17 PDF Print E-mail

ITDC posts Rs. 12.05 cr profit for another consecutive year; turnover increases by 6.32% in FY 2016-17

Board of Directors have recommended Dividend of 13.3% amounting to Rs.11.41crore

 

India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a robust performance for the financial year 2016-17.  Total turnover stood at Rs 495.14 cr as compared to Rs. 465.69 cr in last financial year clocking a growth of 6.32%. Revenue from operations stood at Rs. 473.15 cr as compared to Rs. 437.13 cr in the last fiscal. Corporation posted profit before tax (PBT) of Rs.17.52 cr and profit after tax (PAT) of Rs.12.05 cr in 2016-17 against Rs. 32.42 cr and Rs. 22.55 cr respectively in the previous year.

 

The results were announced in the Board Meeting of the company held on 30th May at the Group’s flagship hotel, The Ashok, New Delhi.

 

Speaking on the occasion Shri Piyush Tiwari, Officiating Chairman & Managing Director and Director (Commercial & Marketing), India Tourism Development Corporation (ITDC) Ltd. 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.” Shri Tiwari further added.

 

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 cr.

 

Awards and Accolades in the year 2016-17:

  • India Tourism Development Corporation (ITDC) won SKOCH Silver Award at the 46th SKOCH Summit 2016
  • Hotel The Ashok, a flagship property of India Tourism Development corporation has been awarded with LEED Gold Certification for Existing Buildings, Operations and Maintenance by U.S. Green Building Council (USGBC)
  • Indian Tourism Development Corporation Ltd. (ITDC) made debut on National Stock Exchange (NSE)
  • Hon’ble Tourism Minister Dr. Mahesh Sharma launched ITDC New Logo marking Golden Jubilee
  • 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.
  • Two new duty free shops under Ashok International Trade Division have been opened at Kakinada Deep Water Seaport, and Krishnapatnam, Andhra Pradesh

 

About India Tourism Development Corporation

ITDC was incorporated in 1966 with a mandate to develop and expand tourism infrastructure in the country. The Corporation has been moving ahead with consistent efforts on development, growth and world-class services and amenities to its guests. Apart from running Hotels, the ITDC has diversified into non-hotel sectors like Ticketing, Tours and Travels, Event Management, Duty-Free Shopping, Publicity & Printing Consultancy, Engineering Consultancy, mounting Sound & Light Shows, Hospitality education and skill development– all under one roof.

 

Know more: www.theashokgroup.com

 

 

 

For further details please contact:

Zeeshan Ali

Adfactors Public Relations

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