ITDC posts net profit at Rs10.23cr Q3FY20; stock gains 3.5%

India Tourism Development Corporation (ITDC) Ltd, the public sector undertaking under the aegis of Ministry of Tourism, posted a noteworthy performance in the 3rd quarter for the financial year 2019-20 with Rs10.23cr as profit.

The total turnover in third-quarter ending December 2019 stood at Rs108.13cr and the company registered Profit before Tax (PBT) at Rs22.44cr as compared to Rs12.02cr in the corresponding quarter last year i.e. 2018-19. An increase of Rs10.42cr as compared to the last financial year was registered.

The major contributor to the total revenue to the corporation was the hotel division.

Stock view:
India Tourism Development Corporation Ltd is currently trading at Rs320.90, up by Rs11.35 or 3.67% from its previous closing of Rs309.55 on the BSE.

The scrip opened at Rs328.20 and has touched a high and low of Rs330.75 and Rs318.20 respectively.