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ITDC presents dividend cheque to union tourism minister

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India Tourism Development Corporation (ITDC) chairman and managing director, Girish Shankar handed over a cheque for INR 3.73 crore to Union Tourism Minister Mahesh Sharma, towards five per cent interim dividend payment to the Government of India for the year 2013-14. Present on the occasion were Secretary– ministry of tourism – Dr. Lalit K. Panwar, director (commercial and marketing) Cmde (Retd.) RK Okhandiar and director (finance), Trinath Behera alongwith other Sr. officials of MoT and ITDC. The ceremony took place at minister’s office at Transport Bhawan, New Delhi.

The decision for the payment of dividend was taken during ITDC 49th Annual General Meeting held at the Group’s flagship hotel, The Ashok, New Delhi. The Corporation has 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 INR470 crore approximately. The net profit before tax increased by 118 per cent to INR11.93 crore while profit after tax increased by 214 per cent to INR9.42 crore.

The corporation has also declared a dividend of five per cent amounting to INR4.29 crore approximately 45.5 per cent of net profit which is as recommended by the Board in the meeting held earlier last year. The Corporation, besides showing improvement in turnover and profitability, has also shown a significant improvement in the operational efficiency. Further, the turnover of almost all the operational verticals have increased during the year.

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