ITDC’s turnover increases by 6.32% in FY 2016-17

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 crore as compared to Rs 465.69 crore in the last financial year, clocking a growth of 6.32%. Revenue from operations stood at Rs 473.15 crore as compared to Rs 437.13 crore in the last fiscal. Corporation posted profit before tax (PBT) of Rs 17.52 crore and profit after tax (PAT) of Rs 12.05 crore in 2016-17 against Rs 32.42 crore and Rs 22.55 crore respectively in the previous year.

Speaking on the occasion, Piyush Tiwari, Officiating CMD & Director (Commercial & Marketing), 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 organisation 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.”

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 its highest ever turnover amounting to Rs 152.91 crore.