ITDC takes a big leap with a threefold increase in standalone profits in FY 2018-19 PERFORMANCE

ITDC takes a big leap with a threefold increase in standalone profits in FY 2018-19

 

New Delhi: India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a significant performance for the financial year 2018-19. 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.
 
Total Income stood at Rs. 371.72 Crore as compared to Rs. 366.42 Crore in last financial year. Revenue from operations stood at Rs. 349.96 Crore as compared to Rs. 339.71 Crore in the last fiscal. Corporation posted profit before tax (PBT) of Rs. 62.23 cr. and profit after tax (PAT) of Rs.42.16 Crore in 2018-19 against Rs.40.12 Crore and Rs.17.71 Crore respectively in the previous year. 
 
This financial year the company earned an operating profit of Rs. 26.06 cr. as against operating loss of Rs. 10.09 cr. in the last financial year from continued operations.
The total comprehensive income for the financial year 2018-19 is Rs. 43.93 Crore as against Rs. 13.22 Crore during the previous year.
The Corporation proposed a dividend of 21% amounting to Rs. 21.71 cr. including tax as compared to 18.5% during last financial year. 
 
FY 2018-19 has been a crucial and important year for ITDC, especially in view of the ongoing disinvestment. The profit is result of several proactive initiatives taken by the organization during the year e.g. improvement in turnover, overall reduction in costs, process improvement, realignment of business policy& processes etc. to improve its productivity and efficiency.


Posted Date :  01-06-19

Categories : PERFORMANCE

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