India Tourism Development Corporation (ITDC) has reported a ₹8.35 crore net loss in the second quarter of financial year 2017-2018. This is more than double the ₹3.01 crore loss reported by the public sector undertaking in the corresponding quarter of the last financial year.
The company’s topline fell to ₹76.2 crore for the quarter under review. This is 4.5 per cent lower than the ₹79.5 crore total income reported in the same quarter of the previous fiscal.
ITDC’s hotel division reported a ₹5.97 crore against a profit ₹6.66 crore in the comparable quarter of the last financial year.
There was a turnaround in the travels and tours business that reported a profit of ₹2.15 crore. This business had reported a loss of ₹ 12 crore in the same period last year.