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CMD, ITDC presents dividend cheques of ITDC and KFHL for 2014-15 amounting to Rs 18.88 crores to Shri Mahesh Sharma

Shri Umang Narula, Chairman, Indian Tourism Development Corporation (ITDC) presented two dividend cheques of ITDC and KFHL for 2014-15 for the Government of India amounting to Rs 18.88 crores to Shri Mahesh Sharma, the Minister of State (I/C) for Tourism and Culture. Secretary, Shri Vinod Zutshi M/o Tourism and senior officers of Ministry and ITDC were also present on the occasion. ITDC, a PSU under the administrative control of the Ministry of Tourism has declared a dividend of 20 per cent amounting to Rs 17.15 crore for 2014-15, the highest ever in terms of amount and the highest since 2007-08 in terms of percentage and Kumarakruppa Frontier Hotels (KFHL), another PSU under the Ministry of Tourism has also declared a dividend amounting to Rs 4.39 crore for 2014-15.

For the financial year 2014-15, ITDC posted a robust performance registering the net profit of Rs 38.95 crore on a turnover of Rs 504.19 crore, the highest since 2007-08. Of the overall performance, the hotel segment i.e. the core area of ITDC, achieved an impressive turnover of Rs 283.90 crore with a profit of Rs 10.81 crore. Sound and Light Show (SEL) is the unique expertise of ITDC. The Sound and Light Show division is primarily undertaking the implementation of Sound and Light Show projects across the country.

The division undertakes the project right from the site identification stage to conceptualisation till commissioning. The Division has recently mounted show at Ross Island in Andaman and Nicobar and another at Deoghar in Jharkhand.