India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, posted a stable performance for <g data-gr-id="22">first</g> quarter of the current financial year 2015-16. The total turnover in <g data-gr-id="21">quarter</g> ending June 2015 stood at Rs105.96 crore as compared to Rs103.63 crore in the corresponding quarter last year.
The company registered <g data-gr-id="16">et</g> Profit Before Tax (PBT) at Rs 2.77 crore and net sales at Rs 96.95 crore as compared to Rs 0.30 crore and Rs 96.19 crore respectively in the corresponding quarter last year in 2014-15. These details were announced in the Board of Directors’ meeting of the company on Friday at the Group’s flagship hotel, The Ashok, New Delhi.
Buoyed by the positive market sentiment after the NDA government came into power, the tourism sector has seen renewed impetus helping ITDC to post a robust performance in the last financial year.
In Q1, 2015-16 the momentum generated in the last financial year seem to have continued posting profit yet again. Also, The Ashok group of hotels has been in the forefront of innovative marketing initiatives ensuring consistency in sales and occupancy. The company has registered an occupancy rate of 47% compared to 45% in the corresponding quarter last year.