India Tourism Development Corporation (ITDC) Ltd. for the FY 2015-16

• The Corporation recorded a turnover of Rs.465.69 cr

• Board of Directors have recommended Dividend of 15% amounting to Rs.12.87 Crore

• Profit Before Tax (PBT) stood at Rs.32.42 cr

• The Ashok, Samrat and Janpath showed very good performance and 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.

Recently awarded with “Fastest Growing Mini Ratna PSU” award for 2015, India Tourism Development Corporation (ITDC) Ltd, the public sector undertaking under the aegis of the Ministry of Tourism, posted a strong performance yet again for the financial year 2015-16.  The Corporation recorded a turnover of Rs.465.69 cr whereas, Profit Before Tax (PBT) stood at Rs.32.42 cr and Profit After Tax (PAT) was recorded at Rs.22.55 cr. ITDC posts profit for the fourth consecutive year.

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

Speaking on the occasion Shri Umang Narula, IAS, Chairman & Managing Director, India Tourism Development Corporation (ITDC) Ltd. said “FY 2015-16 has been a motivating year for ITDC. The profit is the result of several proactive initiatives taken by the organization 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 endeavors towards the profit making journey of the organization.”

“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.” Shri Narula further added.

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 very good performance and 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.