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ITDC Posted Noteworthy Profit Amounting To Rs. 22.48 Crores (PAT)

Jul 31st, 2020 5:41 pm | By | Category: SPECIAL NEWS COVERAGE

India Tourism Development Corporation (ITDC) posted a notable performance for the financial year 2019-20 despite severe impact of COVID-19 on the tourism, travel and hospitality sector during last quarter of financial year including lockdown in the second half of month of March’20 which brought entire industry to a standstill. Total Income during the year was Rs. 357.49 crore and Revenue from operations was Rs. 336.27 crore. The Corporation posted profit before tax (PBT) of Rs 42.68 crore and profit after tax (PAT) of Rs. 26.12 crore from both continued and discontinued operations.

FY 2019-20 has been a crucial and important year for ITDC, especially in view of the ongoing disinvestment. The profit is result of several proactive initiatives taken by the organization during the year e.g. overall reduction in costs, process improvement, realignment of business policy& processes etc. to improve its productivity and efficiency. Kamala Vardhan Rao, a 1990 batch IAS officer of Kerala cadre is the Chairman and Managing Director of Tourism Development Corporation of India (ITDC)

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