The Chairperson and Managing Director, India Tourism Development Corporation (ITDC), Ravneet Kaur, on Wednesday presented a cheque of Rs 9.93 cr to Tourism Minister K J Alphons for the financial year 2016-17, on behalf of ITDC. The amount was paid by the ITDC to the government, which is the largest shareholder of the company. Government of India has 87.03 per cent of the paid-up capital of the company.
The ceremony was attended by Rashmi Verma, Secretary, Ministry of Tourism; Suman Billa, Joint Secretary, Ministry of Tourism; Piyush Tiwari, Director, Commercial & Marketing, ITDC; P K Das, Director, Finance & CFO, ITDC along with other senior officials of the Ministry of Tourism and ITDC at the Minister’s office in the Capital.
The India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, had declared a dividend of 13.3 per cent on the equity share capital of the company, amounting to Rs.11.41 crore for 2016-17. The decision to pay dividend was taken during ITDC's 52nd annual general meeting held at the Group’s flagship hotel, The Ashok, New Delhi.
Showing robust growth, ITDC‘s total turnover stood at Rs 495.14 cr in the financial year 2016-17, as compared to Rs 465.69 cr in the last financial year, clocking a growth of 6.32 per cent. Revenue from operations stood at Rs. 473.15 cr as compared to Rs. 437.13 cr in the last fiscal. Corporation posted profit before tax (PBT) of Rs.17.52 cr and profit after tax (PAT) of Rs 12.05 cr in 2016-17 against Rs 32.42 cr and Rs 22.55 cr respectively in the previous year.
Besides hotels, Ashok Tours & Travels, Ashok Events, Ashok Institute of Hospitality & Tourism Management, Ashok Consultancy & Engineering Services and Ashok International Trade Division are the major wings of ITDC.
The group won multiple awards and accolades during the year 2016-17. ‘The Ashok’ under ITDC was bestowed the National Tourism Award for Best Hotel-Based Meeting Venue and Best Chef Award in the 4-5 star category hotels. ITDC received the coveted 'LEED Gold' certification trophy for 'The Ashok'. The CSR initiatives of ITDC won the SKOCH Silver Award and the first prize under the Mini Ratna-l- category at the Governance Now 4th PSU Awards.