Girish Shankar, Chairman & Managing Director, India Tourism Development Corporation (ITDC), on behalf of India Tourism Development Corporation (ITDC), handed over a cheque for Rs. 3.73 crores to Union Tourism Minister Mahesh Sharma towards 5 per cent interim dividend payment to the Government of India for the year 2013-14. Present on the occasion were Lalit K. Panwar, Secretary, Ministry of Tourism (MoT); R.K. Okhandiar, Director (Commercial & Marketing) Cmde (Retd.); and Trinath Behera, Director (Finance), along with other senior 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 Rs. 470 crores approximately. The net profit before tax increased by 118 per cent to Rs.11.93 crores while profit after tax increased by 214 per cent to Rs 9.42 crores.
The corporation has also declared a dividend of 5 per cent amounting to Rs. 4.29 crores 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.
