ITDC sees strong rebound in Q3, posts 7.36 crore profit

India Tourism Development Corporation (ITDC) posted a strong financial performance for the third quarter of the current financial year 2021-22 (Apr-Mar) despite severe impact of COVID-19 on tourism, travel and hospitality sector, which had brought entire industry to a standstill.

Net sales rose sharply by 93% at IN 88.22 crore from IN 45.69 crore in Q3 2020-21. Net Profit for the period was at IN 7.36 crore compared to a loss of INR 8.49 crore in Q3 2020-21.

The turn-around in performance is the result of several proactive initiatives taken by the organization during the year e.g. overall reduction in costs, process improvement, realignment of business policy & processes etc. to improve its productivity and efficiency.

Shares of India Tourism Development Corporation Limited was last trading in BSE at Rs. 370.00 as compared to the previous close of Rs. 368.30. The total number of shares traded during the day was 1500 in over 196 trades.

The stock hit an intraday high of Rs. 373.50 and intraday low of 366.65. The net turnover during the day was Rs. 555845.00.

Source : Equity Bulls

Keywords

IndiaTourismDevelopmentCorporation INE353K01014 ITDC Q3FY22 ResultUpdate