India Tourism Development Corporation Ltd Share Price – NSE  /  BSE

Hotels & Restaurants, Small Cap

ITDC announced that the Board of Directors of the Company at its meeting held on 11 May 2024, has recommended a Final dividend of Rs.2.52 per share (i.e.25.2%), subject to the approval of the shareholders.

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Net profit of India Tourism Development Corporation rose 57.10% to Rs 15.71 crore in the quarter ended March 2024 as against Rs 10.00 crore during the previous quarter ended March 2023. Sales declined 3.82% to Rs 147.88 crore in the quarter ended March 2024 as against Rs 153.75 crore during the previous quarter ended March 2023.

For the full year,net profit rose 27.59% to Rs 70.33 crore in the year ended March 2024 as against Rs 55.12 crore during the previous year ended March 2023. Sales rose 15.45% to Rs 532.02 crore in the year ended March 2024 as against Rs 460.82 crore during the previous year ended March 2023.

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ITDC will hold a meeting of the Board of Directors of the Company on 11 May 2024.

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Revenue from operations jumped 14.31% to Rs 134.93 crore during the quarter as compared with Rs 118.04 crore posted in corresponding quarter last year.

The firm reported profit before tax of Rs 25.36 crore in Q3 FY24, down 6.97% as compared Rs 27.26 crore posted in same period a year ago.

During the quarter, total expenses jumped 17.82% YoY stood at 114.22 crore. Cost of material consumed was at Rs 40.42 crore (up 56.46% YoY), employee benefits expenses stood at Rs 27.99 crore (down 8.22% YoY) and finance cost stood at Rs 0.19 crore (down 45.85% YoY) during the period under review.

On the segmental front, revenue from the hotel division business stood at Rs 95.85 crore (up 1% YoY), event management, hospitality & tourism management institute & others business was at Rs 28.53 crore (up 164.65% YoY) while international trade division was at Rs 4.39 crore (down 7.96% YoY), travels &tours business was at Rs 8.36 crore (down 15.21% YoY) and engg, consultancy projects business stood at Rs 2.45 crore (down 36.69% YoY) during the period under review.

On nine months basis, the company's consolidatd net profit jumped 19.38% to Rs 52.03 crore on 25.09% increase in revenue from operations to Rs 384.13 crore in 9M FY24 over 9M FY23.

ITDC is running hotels, restaurants at various places for tourists, besides providing transport facilities. The company is engaged in production, distribution and sale of tourist publicity literature, providing entertainment, duty free shopping facilities to tourists, hospitality & tourism management of the Company imparting training and education in the field of tourism and hospitality through Ashok Institute of Hospitality & Tourism Management etc.

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