ITDC profit surges in Q1, 2017

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NEW DELHI, August 14, 2017 – India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a remarkable performance for first quarter of the current financial year 2017-18. The total turnover in quarter ending June 2017 increased to Rs.109.60 cr as compared to Rs. Rs. 91.42 cr in the corresponding quarter last year. The company registered Net Profit Before Tax (PBT) at Rs. 25.19 cr as compared to Rs. 14.30 cr in the corresponding quarter last financial year i.e. 2016-17, an increase of 76.15% from last year.

The aforesaid information is based on the new Indian accounting standards 2017 (Ind AS) as applicable from 1st April 2017.

These details were announced in the Board of Directors’ meeting of the company held on 14th August, 2017 at the Group’s flagship hotel, The Ashok, New Delhi. Buoyed by the profits in last financial year 2016-17, ITDC has posted good performance for this year as well.

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.

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