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Despite recession ITDC Q3 net grows 5.84% – highest ever

New Delhi, February10, 2009: The Indian Tourism Development Corporation (ITDC) announced the results for the three quarters ended December, 2008. The turnover for the three quarters ended December 2008 was Rs.324.94 crore against Rs.311.27 crore in the corresponding period last year showing year-on-year growth of 4.39%. The net profit of ITDC increased to Rs.50.27 crore as opposed to Rs.48.09 crore last year (April – December 2007), posting a year-on-year growth of 4.52%.

Going against the downturn which Indian travel & tourism sector is witnessing, especially with 26/11 just gone by, ITDC witnessed 5.84% growth for the 3rd quarter with the net at Rs.29.61 crore as against Rs.27.98 crore during the corresponding period previous year primarily due to robustness and inherent strength of our business model.

The operating profit of ITDC has gone up by 6.99% from Rs.50.40 crore last year (April 07- Dec07) to Rs.54.66 crore this year.

ITDC also announced the results of some of its key divisions. Ashok Travel & Tours posted a year-on-year growth of 36.32%, with turnover reaching Rs.54.54 crore during the period April-December 2008 as compared to 40.01 crore in the corresponding period last year. Ashok Creative showed an increase of 78.56% in turnover from last year. The turnover of The Ashok, The Samrat and The Janpath Hotel increased by 7.02%, 19.07% and 19.17% respectively. The other hotels which showed higher turnovers are, The Jammu Ashok, Patliputra Ashok and Bharatpur Ashok.

Properties %age increase in Turnover
BFL Bharatpur 23.57
Janpath Hotel 19.71
Samrat Hotel 19.07
Patliputra Ashok 18.28
Jammu Ashok 9.33
Ashok Hotel 7.02

ITDC’s effort in developing tourism is unparallel from providing accommodation to a gamut of services to develop India as a major tourist destination.

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