ITDC posts big jump in Revenue and Profits during half yearly financial results (2023-24)

Mumbai, 7th November 2023 : India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism is delighted to announce a big jump in H1 turnover. Following its remarkable financial performance in FY 2022-23, ITDC continues to demonstrate impressive results in H1 2023-24. The total turnover for the H1 of the year 2023-24 stood at Rs. 246.66 Cr, representing a substantial increase of over 32% compared to the corresponding period of last financial year.

The Profit Before Tax (PBT) for the H1 of the FY 2023-24 reached Rs. 50.87 Cr as compared to Rs. 33.22 Cr for corresponding period of last FY, a growth of over 53% whereas, PAT during this H1 stood at Rs. 37.42 Cr as against Rs. 23.29 Cr for H1 of the last FY. As against last quarter (Q1), the turnover and PAT this quarter (Q2) also grew by 11% and 10% respectively.

Speaking about the same, Mr. M. R. Synrem, IAS, Managing Director, ITDC, said, “ITDC is delighted to report a substantial growth and outstanding performance in H1 for the fiscal year 2023-24. This growth underscores ITDC’s unwavering commitment to excellence, prudent financial management, and its steadfast dedication to providing value to its stakeholders. As ITDC continues its expansion within the tourism and hospitality sector, it remains firmly committed to fostering and advancing tourism in India while prioritizing sustainable growth and practices.”

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