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ITDC profit increases 139% in Q1

ITDC profit increases 139% in Q1
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First Published: Mon, Aug 06 2007. 11 30 AM IST
Updated: Mon, Aug 06 2007. 11 30 AM IST
New Delhi: The State owned public sector company India Tourism Development Corporation (ITDC) in its Board of Director’s meeting on 30July, 2007 informed that it’s June quarter profit (PBT) was Rs9.79 crore this fiscal as against Rs4.06 crore in the corresponding period last year. Profits have grown by 139.65% over last year and by 332% over the first quarter profits of 2005-06.
Growth in profits has come from all divisions, especially with the hotels division with The Ashok, Delhi, showing the biggest growth in terms of cash, with a profit of Rs6.09 crore (2007 – 08 Q1) as against Rs2.76 crore (2006-07 Q1).
Turnover of all Delhi based hotels: Indira Gandhi International Airport Restaurant; Vigyan Bhawan catering unit, National Media Centre, Bharatpur Ashok, Patliputra Ashok, Kalinga Ashok & Lalitha Mahal Palace Hotel, Mysore, has increased as compared to last year in the first quarter. Hotels which did not contribute to the profits were Jaipur Ashok, Jammu Ashok, Kalinga Ashok and Bharatpur Ashok.
ITDC is undertaking major upgradation in its properties. Ashok, New Delhi, is sporting a brand new look. While Mashrabiya and Sagar Ratna were awarded Best Restaurants in Delhi by the Times Food Guide, Amatrra, has been declared as one of the ten best Spa’s in the world by Forbes Magazine.
ITDC has also entered into a joint venture with Aldeasa SA, a Spanish company which is the fifth largest in the world in Duty Free Operations. The Ashok Institute of Hospitality & Tourism Management (AIH&TM) is a strategic business unit of ITDC and is actively engaged in conducting professional hospitality related educational and career oriented courses.
The Ashok Creatives Division undertakes mounting of Sound & Light Shows from concept to commissioning; Ashok Tours & Travels (ATT) and Ashok Reservation & Marketing Services (ARMS) has given a boost to Convention Tourism & Conference Management, offering customized solutions for organizing events.
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First Published: Mon, Aug 06 2007. 11 30 AM IST