India Tourism Development Corporation (ITDC), a Mini Ratna public sector undertaking under the aegis of the Ministry of Tourism, registered its best-ever financial performance during the financial year 2022-23, achieving the highest-ever Turnover and Profit. The total turnover for the fiscal year 2022-23 stood at Rs. 458.08 cr, representing a substantial increase of over 58% compared to the previous year.
The Profit Before Tax (PBT) for FY 2022-23 reached Rs. 86.12 cr, a jump of 983% in comparison to the previous year, while the PAT stood at Rs. 60.33 cr. this year in comparison with PAT last year of Rs. 4.38 cr.
Commenting on the same, Shri. Piyush Tiwari, Director (Commercial & Marketing), said, “ITDC scripts a new success story this year with its exceptional offerings and consumer-centric services. These astounding growth figures demonstrate a historic moment for us, as we celebrate the highest-ever turnover and profit by surpassing all previous records and accomplishing notable milestones, particularly a huge rebound after the negative impact of COVID-19. We have achieved the highest consolidated turnover ever recorded for a full year, along with an unprecedented profit before tax. This incredible performance showcases our commitment to excellence and our dedication to promoting tourism in India which was made possible by the dedicated and determined efforts put in by ITDC collective.”
The iconic Ashok hotel has achieved its highest-ever turnover of Rs. 199.59 cr and profit of Rs. 50.51 cr during FY 2022-23, further highlighting the exceptional performance of ITDC. All the business verticals at ITDC have also shown a much-improved performance during the FY 2022-23. This indicates a strong demand for ITDC's incomparable hospitality offerings. The increased occupancy showcases ITDC's unwavering commitment to providing unparalleled guest experiences, ensuring customer satisfaction at the forefront of their operations. ITDC's relentless pursuit of excellence and innovation, coupled with a deep understanding of the evolving needs and preferences of its discerning guests makes it stand unique in the market. Its outstanding financial results are a reflection of the recognition of ITDC’s capabilities in customers’ minds. By consistently raising the bar in terms of quality, service, and amenities, ITDC has successfully positioned itself as a preferred choice among travelers and business professionals alike.