India Tourism Development Corporation (ITDC), a Mini Ratna public sector undertaking under the aegis of the ministry of tourism, announced another astounding financial performance for the quarter ending June 30, 2023, achieving the highest-ever turnover and profit in comparison with the first quarter of the past six years.
The company achieved a turnover of INR 121.83 crore in Q1 2023-24 as compared to INR 98.40 crore in Q1 2022-23 – registering a growth of 24 percent.
The Profit before tax climbed to INR 25.51 crore as against 18.05 crore during the corresponding quarter last year, showcasing 41 percent growth. Profit after tax also took a leap of 62 percent, rising from 10.97 crore in Q1 2022-23 to 17.83 crore during the same quarter this year.
Commenting on the same, Lokesh Kumar Aggarwal, Director (Finance-C&M), ITDC said, “This quarter, ITDC forges yet another tale of triumph through its extraordinary offerings and consumer-focused services.”
India introduces a new visa category for foreign nationals seeking treatment under Ayush systems and Indian medicine, aiming to boost medical tourism and position India as a premier medical value travel destination. In recent years, India has witnessed a decent growth in Medical Value Travel. A report states that the Ayush-based healthcare and wellness economy is expected to reach USD 70 billion by the year 2025.
These growth figures demonstrate a steep growth path that ITDC is treading upon as we achieve the highest-ever turnover and profit in Q1 by surpassing records of the past six years and crossing newer milestones. While this incredible growth story continues, it marks a momentous achievement for us and showcases the commitment to excellence and highest guest satisfaction through the dedicated and determined efforts of ITDC,” he added. The performance growth showcases ITDC’s unwavering commitment to providing unparalleled guest experiences, ensuring customer satisfaction at the forefront of ITDC’s operations. ITDC’s unwavering commitment to achieving excellence and fostering innovation, combined with a profound grasp of the ever-changing requirements and desires of its discerning patrons, sets it apart within the market.
Through continual elevation of benchmarks in terms of quality, service, and facilities, ITDC has effectively established itself as the favoured option among both travellers and business connoisseurs.
