ITDC, KFHL present dividends worth Rs 18.84 crore

India Tourism Development Corporation (ITDC) Chairman Umang Narula today handed over dividends worth Rs 18.88 crore for the year 2014-15 to Tourism Minister Mahesh Sharma here.
The dividend cheques of Rs 17.15 crore of ITDC and Rs 4.39 crore of Kumarakruppa Frontier Hotels Ltd (KFHL), both PSUs of Tourism Ministry were given in the presence of senior Tourism Ministry and ITDC officials.
Speaking on the occasion, Sharma said "As per the initiatives of the Prime Minister Narendra Modi for good governance taken last year, the good results have started yielding now. The officers of his ministry have been assigned target oriented goals with proper transparency."

On the issue of loss-making hotels, he said his ministry had recently held a meeting with the representatives of eight States on the issue.
ITDC, which has declared a dividend of 20 per cent for 2014-15, posted a robust performance registering the net profit of Rs 38.95 crore on a turnover of Rs 504.19 crore, the highest since 2007-08.
ITDC had eight hotels of its own and five joint venture hotels under the brand of Ashok. Besides hotels, ITDC also managed catering at VVIP Venues like Hyderabad House, Vigyan Bhawan.