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India Tourism Development Corporation’s profit surges 76% in Q1, 2017

Monday, August 14, 2017, 18:30 Hrs  [IST]
By HBI Staff | New Delhi

India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a remarkable performance for first quarter of the current financial year 2017-18.

The total turnover in quarter from April to June 2017 increased to INR 109.60 cr as compared to INR 91.42 cr in the corresponding quarter last year. The company registered Net Profit Before Tax (PBT) at INR 25.19 cr as compared to INR 14.30 cr in the corresponding quarter last financial year i.e. 2016-17, an increase of 76.15% from last year.

The aforesaid information is based on the new Indian accounting standards 2017 (Ind AS) as applicable from April 1, 2017.

These details were announced in the Board of Directors’ meeting of the company held on August 14, 2017 at the group’s flagship hotel, The Ashok, New Delhi. Buoyed by the profits in last financial year 2016-17, ITDC has posted good performance for this year as well.

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