ITDC registers highest-ever turnover of Rs 458.08 cr in FY23: Statement

Its profit before tax (PBT) for FY2022-23 jumped 983 per cent year-on-year to Rs 86.12 crore (Representative Image)

India Tourism Development Corporation on Thursday said it has registered the highest-ever financial performance with a total turnover of Rs 458.08 crore in 2022-23. This represents an increase of over 58 per cent compared to the previous fiscal, a statement from the Mini Ratna public sector undertaking under the Ministry of Tourism said.

Its profit before tax (PBT) for FY2022-23 jumped 983 per cent year-on-year to Rs 86.12 crore, while PAT stood at Rs 60.33 crore against Rs 4.38 crore a year ago. "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 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." Iconic Ashok Hotel has achieved its highest-ever turnover of Rs 199.59 crore and profit of Rs 50.51 crore during FY2022-23, the statement said.

It also said that all the business verticals at ITDC have also shown a much-improved performance during FY2022-23. This indicates a strong demand for ITDC's incomparable hospitality offerings.