OTDC declares Rs 1 crore interim dividend for 2018-19

Bhubaneswar: Odisha Tourism Development Corporation (OTDC) has declared interim dividend of Rs 1 crore for the financial year 2018-19.

Tourism Minister Ashok Chandra Panda said that a cheque of Rs 1 crore has been given to Chief Minister Naveen Patnaik towards interim dividend for the year 2018-19.

Panda informed that Odisha government 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 crore during the financial year 2017-18 and for the 2nd time, interim dividend of Rs 1 crore is paid in the current financial year.

The corporation has made a net profit of Rs 4.83 crore up to 3rd quarter ending Deccember 2018. The accumulated profit of the corporation as on March 31, 2018 stands at Rs 25.60 crore.

The corporation is presently operating 19 hotel units and has the largest luxury tourist transport fleet of the state. It is working to improve its facilities and services in its hotel units both out of own resources and private sector intervention to provide better facilities and services to the guest.

OTDC has made an ambitious target to make a quantum jump in turnover and profitability in the next three years by improving the facilities and services in all its Panthanivas.