Panjim, Sept 20 IBNS | 11 months ago

The Board of Directors of Goa Tourism Development Corporation in its 131st meeting held on Sept 17, announced that GTDC registered a net profit of Rs. 40 lakhs this year.


The board also took some of the major decisions and approved some proposals, keeping in mind the development of tourism in the state.

The balance sheet and profit and loss account for the year ending March, 2013, were approved.

After suffering a major loss of over Rs 6 crore in 2011-12, the GTDC due to its pro-active and professional management of its assets turned around this year and bounced back by reporting a net profit of Rs. 40 lakhs, GTDC said in statement.

Nilesh Cabral, Chairman, GTDC said that this was only possible due to the professional management and the efforts of GTDC. He said that the corporation has also taken efforts to utilise its idle assets and generate revenue by developing properties of tourism department by open tenders.

The board also decided to implement VRS scheme for its employees so as to reduce the excess manpower and to contain the salary burden incurred by GTDC.

This will enable GTDC to save outflow of salary and associated costs thereby enabling it to become lean and professionally managed organization. This scheme will be implemented after obtaining approval by the state government.

(Posted on 21-09-2013)