Speaking to The Financial Express ITDC chairperson and managing director Asha Murty pointed out that rise in the corporation's wage bill had offset the gains of a higher turnover and there had been no improvement in its financial position. ITDC's wage bill stood at Rs 63.79 crore in the six-month period, against Rs 53.53 crore in the same period last year.

The corporation, reportedly, suffered losses worth Rs 12 crore during the first quarter of the current fiscal. ITDC's recent decision to revise wages of its non-executive staff added a financial burden of about Rs 20 crore as additional annual wage and Rs 30 crore as arrears. Ms Murty said that as a number of ITDC hotels were suffering losses, the corporation had decided to take measures to curb expenditure and increase revenue. "We have started taking economy measures and have identified a few key areas for effecting savings. The areas include saving on power & fuel and food cost," she added.