Odisha Tourism Development Corporation declared Interim Dividend in 2018-19

Bhubaneswar: Odisha Tourism Development Corporation has declared Interim Dividend
of Rs. 1.00 Cr. for the Financial Year 2018-19. Sri Ashok Chandra Panda,
Minister Tourism, Odia Language, Literature & Culture has said that a
Cheque of Rs. 1.00 crore has been given to Hon’ble Chief Minister towards
Interim Dividend for the year 2018-19.
Minister Sri Panda informed that Govt of Odisha has invested Rs. 9.62
crore in OTDC as Equity. OTDC was making continuous loss since its
inception till 2002-03 and only from 2003-04, it has started making profit. For
the first time OTDC had declared Dividend of Rs. 1.00 Cr. during the financial
year 2017-18 and for the 2nd time, interim Dividend of Rs. 1.00 Cr. is paid in
the current financial year. The Corporation has made a net profit of Rs. 4.83 Cr.
up to 3rd quarter ending Dec’18. The Accumulated profit of the Corporation as
on 31.03.18 stands at Rs. 25.60 Cr.
The Corporation is presently operating 19 hotel units and has the largest
luxury tourist transport fleet of the state. The Corporation is working to
improve its facilities and services in its hotel units both out of own resources &
private sector intervention to provide better facilities & services to the guest.
OTDC has made an ambitious target to make a quantum jump in
Turnover & Profitability in the next three years by improving the facilities &
services in all its Panthanivases.
Among others Sri Vishal Kumar Dev, Commissioner-cum-Secretary
Tourism, Sri S. K. Mohanty, General Manager, OTDC & other officials of the
Corporation were present.

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