Tourism Development Corporation (ITDC), a prominent public sector undertaking operating under the Ministry of Tourism, has recently disclosed a remarkable surge in its financial performance for the period up to December 2023. Following a stellar fiscal year 2022-23, ITDC continues to demonstrate impressive results in 2023-24, showcasing substantial growth in turnover and profits.
The corporation announced a notable 24 percent increase in turnover, amounting to Rs 393 crore up to December 2023, marking a significant upswing of over Rs 75 crore compared to the corresponding period of the previous year. Moreover, the Profit Before Tax (PBT) surged impressively by more than 26 percent, reaching Rs 76 crore during the same period.
Additionally, the Profit After Tax (PAT) stood at Rs 55 crore, reflecting a substantial growth of 21 percent over the same period of the previous year. MR Synrem, managing director of ITDC, expressed his satisfaction with the corporation’s robust growth and outstanding performance in the third quarter of the fiscal year 2023-24.
He emphasized ITDC’s commitment to excellence, sound financial stewardship and delivering tangible value to stakeholders. Synrem highlighted ITDC’s expansion in the dynamic tourism and hospitality sector, affirming the corporation’s dedication to driving tourism growth in India while embracing sustainable practices.
Established in 1966 with a mandate to develop and expand tourism infrastructure in the country, ITDC has been consistently striving towards development, growth and delivering world-class services and amenities to its guests.
Apart from managing hotels, ITDC has diversified into non-hotel sectors including ticketing, tours and travel, event management, duty-free shopping, publicity & printing consultancy, engineering consultancy, mounting sound and light shows and hospitality education and skill development — all under one roof.
ITDC’s recent financial achievements underscore its position as a key player in India’s tourism and hospitality industry, showcasing its commitment to driving growth while maintaining financial sustainability and delivering exceptional services to guests.