ITDC to give 20 per cent dividend for 2006-07 fiscal
Government owned Indian Tourism Development corporation on Thursday said it will give a dividend of 20 per cent to its shareholders for the financial year 2006-07.
By PTI |
NEW DELHI: Government owned Indian Tourism Development corporation on Thursday said it will give a dividend of 20 per cent to its shareholders for the financial year 2006-07.
ITDC which has about 14 luxury hotels across the country under the 'Ashoka' brand has announced the dividend after a gap of over nine years.
In the financial year 2006-07, It has earned a net profit of about Rs 105 crore an increase of over 100 per cent as compared to Rs 51 crore in the 2005-06 fiscal.
"We are also expecting a similar profit in 2007-08 fiscal and after a gap of nine years, ITDC would give dividend to its share holders," ITDC spokesperson told reporters here.
The Corporation which has last announced the dividend for 1998-99 fiscal was running into losses till 2005, after which it has started yielding profits.
ITDC which has about 14 luxury hotels across the country under the 'Ashoka' brand has announced the dividend after a gap of over nine years.
In the financial year 2006-07, It has earned a net profit of about Rs 105 crore an increase of over 100 per cent as compared to Rs 51 crore in the 2005-06 fiscal.
"We are also expecting a similar profit in 2007-08 fiscal and after a gap of nine years, ITDC would give dividend to its share holders," ITDC spokesperson told reporters here.
The Corporation which has last announced the dividend for 1998-99 fiscal was running into losses till 2005, after which it has started yielding profits.
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