ITDC registers Rs 22 cr profit

ITDC closed the year with an increase in turnover by nearly 8 per cent as compared to the last year.

The turnover of the PSU has increased from Rs 392.36 crore to Rs 423.06 crore, registering an increase of 7.82 per cent.

"We have earned a profit of Rs 22.02 crore against losses of Rs 11.73 crore and Rs 20.51 crore during 2010-11 and 2009-10 respectively," ITDC Vice Chairman and Managing Director Lalit Panwar said after an Annual General Meeting here.

Asked how the turnover was made, Panwar said, "We undertook a series of steps including cost cutting measures and increasing room occupancy rate by 8 per cent at ITDC hotels."

 

ITDC has 1200 rooms in 15 hotels across the country including the flagship Ashoka hotel.

"Our occupancy rate has increased from 41 per cent to 49 per cent and we want to increase it further for the current fiscal," Panwar said.

ITDC also made payment of Rs 80 crore to the staff as per the recommendation of 6th Pay Commission. "There were dues of the staff since 2007 and we cleared all these payments now," he said.