India Briefings

ITDC records its highest-ever turnover in FY23 of Rs 458 Crore

India Tourism Development Corporation said on Thursday that its 2022–23 fiscal year saw its highest-ever revenue of Rs. 458.08 crore.

In comparison to the prior fiscal year, this marks a rise of more than 58%, according to a statement from the Mini Ratna public sector venture under the Ministry of Tourism.

In comparison to the prior year, its profit before taxes (PBT) for FY2022-23 increased by 983 percent to Rs 86.12 crore, while its profit after taxes (PAT) was Rs 60.33 crore as opposed to Rs 4.38 crore.

“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,” its Director (Commercial & Marketing), Piyush Tiwari, said.

“We generated an exceptional profit before tax and the greatest annual consolidated sales ever recorded. This outstanding accomplishment, which was made possible by the committed and resolute efforts of ITDC collective, demonstrates our commitment to excellence and our passion to promoting tourism in India.

In FY2022-23, the iconic Ashok Hotel reported its highest-ever revenue of Rs 199.59 crore and profit of Rs 50.51 crore.

Additionally, it said that during FY2022-23, all business verticals at ITDC shown a significantly better performance. This suggests that there is a significant market for ITDC's unparalleled hospitality services.

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