ITDC holds AGM, announces 13.30% Dividend to the shareholders

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India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, conducted its 52nd Annual General Meeting at the Group’s flagship hotel property, The Ashok, New Delhi. The meeting was chaired by Ms Ravneet Kaur, IAS, Chairperson & Managing Director of India Tourism Development Corporation.

The Board of Directors present at the meeting were Sh. Piyush Tiwari, Director (Commercial & Marketing), Shri Pradip Kumar Das, Director (Finance), Government Nominee Directors and the Independent Directors.

Following are the highlights from 52nd AGM Address of C&MD to the shareholders on company’s performance during 2016-17:-

  • The Corporation closed the year once again with the remarkable performance. The Turnover of the Corporation during the Financial Year 2016-17 was 495.14 crore.
  • The net profit before tax has been recorded to 17.52 crore during 2016-17
  • The board declared and approved a dividend of 30% amounting to Rs.11.41 crore approximately in the meeting held on 30th May, 2017.
  • The Corporation has shown a significant improvement in the operational efficiency. Overall occupancy during 2016-17 was 58% as against 52% during 2015-16 with flagship Hotel ‘The Ashok’ recording highest turnover of Rs. 152.91 cr during 2016-17.
  • A big push is being given to connect ITDC with new customers especially with younger generation through print and social media. Steps are being taken to make ITDC website more attractive and user friendly.
  • During the year 2016-17, ITDC won many awards and accolades which include “National Tourism Awards”, CSR initiatives won “Skoch Silver Award” and “Governance Now 4th PSU Award”.
  • In the present dynamic and highly competitive environment a need has been felt to broaden the image of the company from hotel centric organization to an organization offering one stop solutions for all hospitality, travel and tourism related needs through its various verticals.

 

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