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ITDC declares five per cent dividend

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ETW StaffMumbai

India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the ministry of tourism, conducted its 49th Annual General Meeting at the Group’s flagship hotel, The Ashok, New Delhi. The highlight of the AGM was the declaration of a dividend amounting to INR 4.29 crore out of which INR 3.73 crore approximately will go to the Government of India.

The Corporation closed the year with an all round increase in the performance as compared to the previous financial years. The turnover of the corporation has increased by 6.57 per cent to INR 470 crore approximately. The net profit before tax increased by 118 per cent to INR 11.93 crore while profit after tax increased by 214 per cent to INR 9.42 crore.

Dr T Kumar, additional secretary and financial advisor – ministry of tourism was the chairperson of the meeting. The Board of Directors present at the meeting were, Girish Shankar, Dr Sameer Sharma, Cmde (Retd) RK Okhandiar, Trinath Behera, Dr Usha Kiran Rai and A V Ratnam.

The Corporation, besides showing improvement in turnover and profitability, has also shown a significant improvement in operational efficiency. Further, the turnover of almost all the operational verticals has increased during the year.

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