ITDC consistently making profits for 4 years -Governance Now

ITDC consistently making profits for 4 years

ITDC has also announced consistent dividends to stakeholders

GN Bureau | June 1, 2016

#Janpath #Samrat #The Ashok #profits #ITDC

India Tourism Development Corporation (ITDC), which recently bagged the “Fastest Growing Mini Ratna PSU” award for 2015, has posted a strong performance for the financial year 2015-16.

Umang Narula, chairman and managing director (CMD) of ITDC, said FY 2015-16 has been a motivating year for the company and the profit is the result of several proactive initiatives taken by the organisation 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 endeavours towards the profit making journey of the organisation,” he said.

The corporation, under the aegis of the ministry of tourism, recorded a turnover of Rs 465.69 crore, according to newspaper reports.

The CMD said besides posting continuous profit year after year, ITDC has also maintained the status of mini ratna and has announced consistent dividends. 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 – clocked net profits. Hotel Patliputra Ashok, Patna and Lalitha Mahal Palace Hotel, Mysore also earned profits. Other hotels of the corporation also showed improved performance during the year.

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