ITDC Reports Significant Increase in Revenue and Profits for the period ending December 2023
Mumbai, 11th February 2024: India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, today announced a notable surge in its turnover for the cumulative period upto December 2023. Following an exceptional financial performance in FY 2022-23, ITDC continues to exhibit impressive results in 2023-24. The total cumulative turnover upto December 2023 amounted to Rs. 393.56 Crore, reflecting a substantial increase of over Rs. 75.09 Crore compared to the corresponding period of last year.
The cumulative Profit Before Tax (PBT) for the same period reached Rs. 76.80 Crore compared to Rs. 60.84 Crore for the corresponding period last year, indicating a growth of over 26%. Likewise, the Profit After Tax (PAT) for this period stood at Rs. 55.71 Crore as against Rs. 46.12 Crore corresponding period of last year.
Mr. M. R. Synrem, IAS, Managing Director, ITDC, commented, “ITDC is pleased to announce robust growth and outstanding performance in the Q3 of fiscal year 2023-24. This achievement underscores ITDC’s commitment to excellence, sound financial stewardship, and delivering tangible value to our stakeholders. As ITDC expands its footprint in the dynamic tourism and hospitality sector, we remain steadfast in our mission to drive tourism growth in India while embracing sustainable practices.”
