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.