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Dividend cheque of Rs 3.73 crpresented to Union Tourism Minister by ITDC

The Chairman & Managing Director of India Tourism Development Corporation (ITDC) Shri Girish Shankar, on behalf of ITDC handed over a cheque for Rs. 3.73 crore to Minister of State of Culture (Independent Charge), Tourism (Independent Charge) and Civil Aviation Dr. Mahesh Sharma today, towards 5% interim dividend payment to the Government of India for the year 2013-14. Secretary, Ministry of Tourism Dr. Lalit K. Panwar, Additional Secretary& Financial Advisor, Ministry of Tourism Dr. (Ms.) T. Kumar and other senior officials of the Ministry of Tourism & ITDC were present on the occasion.

The decision for the payment of Dividend was taken during 49th Annual General meeting of ITDC .The Corporation has closed the year with an all round increase in the performance as compared to the previous financial years. The turnover of the corporation has increased by 6.57% to Rs. 470 crore approximately. The net profit before tax increased by 118% to Rs. 11.93 crore while profit after tax increased by 214% to Rs. 9.42 crore.

The corporation has also declared a dividend of 5% amounting to Rs. 4.29 crore approximately 45.5% of net profit which is as recommended by the Board in the meeting held earlier last year.

ITDC was incorporated in 1966 with a mandate to develop and expand tourism infrastructure in the country. Today, the Corporation offers a bouquet of services with its business activities ranging from Hotel Accommodation, Catering, Transport, Travel Agency, Consultancy, Manpower Training, Duty Free shops and event Management to allied activities such as execution of tourism and engineering projects, promotion of tourism via sound and light shows amongst others.

NB/PS

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