India Tourism Development Corporation Ltd's revenue for Q3FY18 came in at Rs102.14cr, down marginally by 0.6% yoy. The operating profit for the quarter declined by 6.1% yoy to Rs10.58cr. The EBITDA margin contracted by ~62bps yoy to 10.4%. The adjusted net profit (including discontinued operation) stood at Rs4.81cr, down by 44.5% yoy.
• The company has created provision of Rs7.67cr for the quarter in respect of the pay revision of board level and below board level executives and non-unionized supervisors based on 3rd PRC recommendations.
• IDTC has signed a MoU signed on September 19, 2017, to facilitate transfer of the 51% equity of Donyi Polo Ashok Hotel Corporation Limited to Government of Arunachal Pradesh (GoAP)/Arunachal Pradesh Industrial Development & Financial Corporation (APIDFC) Limited . ITDC and GoAP / APIDFC have mutually agreed with the valuation Rs3,89cr. GoAP has paid the consideration amount ~ Rs1.98cr (51% of agreed valuation) to ITDC on January 22, 2018.
• The company has transferred to Govt. of Rajasthan its hotel property i.e. Hotel Jaipur Ashok along with the assets on at a consideration of ~Rs14cr on December 9, 2017. VRS Compensation of ~Rs1.92cr payable to 17 employees of Hotel Jaipur Ashok, who opted for VRS has been adjusted with the consideration resulting to profit on sale of Rs10.39cr as an exceptional item.
India Tourism Development Corporation Ltd ended at Rs. 461, up by 9.75 points or 2.16% from its previous closing of Rs. 451.25 on the BSE.
The scrip opened at Rs. 479.50 and touched a high and low of Rs. 479.50 and Rs. 454.10 respectively. A total of 10,996(NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.
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