ITDC Q3 net dips 7% at Rs 9 cr

The dip is due to rise in cost of operations

Indian Tourist Development Corporation has reported a 7.09% dip in its net profit to Rs 8.90 crore for the quarter ended December 31, 2012, mainly on account of rise in cost of operations.

The company had posted a net profit of Rs 9.58 crore for the corresponding period of previous fiscal, ITDC said in a statement.

Income from operations, however, rose to Rs 112.39 crore for the quarter under consideration from Rs 104.04 crore for the same period year ago.

Currently ITDC has a network of eight Ashok Group of Hotels, six joint venture hotels, 2 restaurants (including one airport restaurant), 12 transport units, one tourist service station and 37 duty free shops at international as well as domestic customs airport.

The corporation is also engaged in production, distribution and sale of tourist publicity literature and providing entertainment and duty free shopping facilities to the tourists.