India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a robust performance for the financial year 2014-15. Total turnover stood at Rs 504.19 crore as compared to Rs 469.58 crore last year clocking a growth of 7.4 per cent. While there was a surge of 226.48 per cent in profit before tax (PBT) at Rs 38.95 crore from Rs 11.93 crore in the previous year, the profit after tax (PAT) surged by 264.86 per cent at Rs 34.37 crore in the FY 2014-15 compared to Rs 9.42 crore same time previous year.This was announced in the Board Meeting of the company today at the Group’s flagship hotel, The Ashok, New Delhi.
FY 2014-15 has been an interesting year for ITDC. The threefold profit is the result of several proactive initiatives taken by the organization in the beginning of the year. The organisation took all necessary steps to keep the operational cost under control and also ensured that the topline is pushed higher through different innovative marketing measures.
The Ashok group of hotels has performed remarkably well; the overall occupancy of the hotels has increased from 43 per cent in FY 2013-14 to 55 per cent in FY 2014-15 making a profit of Rs 10.75 crore. In addition all three Delhi hotels: The Ashok, Samrat and Janpath have also showed very good performance and clocked profit. The Ashok in particular which was in loss by Rs 13 crore in FY 2013-14 has made a turnaround by posting profit in this financial year 2014-15 thus, paving the way for a very positive outlook in the forthcoming year.