India Tourism posts significant profit
India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a significant performance in half yearly results of the current financial year 2018-19. The company registered a total turnover of Rs. 169.72 cr in H1 ending September 2018. Profit Before Tax (PBT) of Rs. 19.05 cr was achieved during this period as compared to Rs. 13.96 cr in the corresponding period last year i.e. 2017-18, clocking an increase of 36.46 %. It also registered Profit After Tax (PAT) of Rs. 15.52 cr as compared to Rs. 10.40 cr during the same period in the previous year.
These details were announced in the Board of Directors’ meeting of the company on 14th November, 2018 at the Group’s flagship hotel, The Ashok, New Delhi. The momentum generated in last financial year has also continued in first half of the financial year 2018-19. Ashok Travels & Tours (ATT) and Ashok Events Division (AED) were among the major revenue contributors for the mentioned period.
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.