ITDC Posts its Profit of Rs. 27.16 Cr in FY 2017-18

New Delhi: India Tourism Development Corporation, posted a significant performance for the financial year 2017-18. Total income stood at Rs 370.64 cr as compared to Rs. 356.11 cr (As per Ind AS) in last financial year. Revenue from operations stood at Rs. 343.87 cr as compared to Rs. 330.77 cr (As per Ind AS) in the last fiscal. Corporation posted the profit before tax (PBT) of Rs. 27.16 cr and profit after tax (PAT) of Rs. 23.62 cr in 2017-18 against Rs. 17.00 cr (As per Ind AS) and Rs. 11.43 cr (As per Ind AS) respectively in the previous year.

 

The Total Comprehensive income for the financial year 2017-18 is Rs. 19.14 crore as against Rs. 10.62 crore during 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.

 

FY 2017-18 has been a crucial and important year for ITDC, especially in view of the ongoing disinvestment process of some hotels. The profit is the result of the realignment of activities and several proactive initiatives taken by the organization to improve its 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 by announcing the consistent dividend for last five consecutive years.

 

ITDC sustained its profit even after implementation of 3rd Pay Revision as well as the increase in minimum wages. Hotel The Ashok & Hotel Samrat, Ashok Travel & Tours and Ashok Events division of ITDC were major contributors to the performance of the organization in FY 2017-18.