Disinvestment in Ashoka hotel ruled out
Ruling out disinvestment of Ashoka Hotel, tourism minister Ambika Soni has said that the India Tourism Development Corporation (ITDC) was performing well and had turned around the fortunes of its properties.
By TNN |
NEW DELHI: Ruling out disinvestment of Ashoka Hotel, tourism minister Ambika Soni has said that the India Tourism Development Corporation (ITDC) was performing well and had turned around the fortunes of its properties.
ITDC recently declared a dividend of 20% on paid up capital amounting to Rs 13.50 crore for the year 2006-07. This is first dividend declared since 1998-99. "Ashoka is our flagship carrier and everyone has worked to the optimum to give us these results," Soni said.
During 2006-07, ITDC made a profit of Rs 105.18 crore before tax as against Rs 51.57 crore during 2005-06 which represented a 104% increase in profits over the previous year.
ITDC recently declared a dividend of 20% on paid up capital amounting to Rs 13.50 crore for the year 2006-07. This is first dividend declared since 1998-99. "Ashoka is our flagship carrier and everyone has worked to the optimum to give us these results," Soni said.
During 2006-07, ITDC made a profit of Rs 105.18 crore before tax as against Rs 51.57 crore during 2005-06 which represented a 104% increase in profits over the previous year.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
