ITDC registers 7.4 per cent growth

India Tourism Development Corporation (ITDC) has posted a total turnover of Rs 504.19 crore for the 2014-15 financial year as compared to Rs 469.58 crore the previous year, registering a growth of 7.4 per cent.
There is a surge of 226.48 per cent in profit before tax (PBT) at Rs 38.95 crore from Rs 11.93 crore in the previous year, a senior ITDC official said, after the board meeting here today.
He said the Board of Directors have recommended dividend of 20 per cent amounting to Rs 17.15 crore. "But the dividend will be finalised in the next board meeting."

The profit after tax (PAT) surged by 264.86 per cent at Rs 34.37 crore in the FY 2014-15 compared to Rs 9.42 crore the previous year.
According to the official, 2014-15 fiscal has been an interesting year for ITDC.
"The three-fold profit is the result of several proactive initiatives taken by the organisation in the beginning of the year. The organisation took all necessary steps to keep the operational cost under control and also ensured that the topline is pushed higher through different innovative marketing measures," he said.

He said the Ashok Group of Hotels has performed well with the overall occupancy of the hotels has increased from 43 per cent in 2013-14 to 55 in 2014-15, making a profit of Rs 10.75 crore.

In addition, all three Delhi hotels -- The Ashok, Samrat and Janpath -- have also showed very good performance and clocked profit.
The official said The Ashok in particular which was in loss by Rs 13 crore in FY 2013-14 has made a turnaround by posting profit in this financial year 2014-15 thus, paving the way for a very positive outlook in the forthcoming year.