You are here: Home » PTI Stories » National » News
Business Standard

Nadda lauds HSCC for massive jump in its turnover

Press Trust of India  |  New Delhi 

Union Health Minister J P Nadda today lauded government-run PSU Hospital Services Consultancy Corporation (HSCC) for a massive jump in its turnover which rose over 92 per cent to Rs 1,106 crore in the last fiscal.

"The minister congratulated HSCC on its remarkable turnover jump of 92.26 per cent. HSCC posted a dividend of 683 per cent on paid up capital, amounting to Rs 16.38 Crore, out of current year's profit for the year 2015-16," an official statement said.

The 33rd Annual General Body Meeting of HSCC (India) chaired by Health secretary C K Mishra was held today wherein a dividend of 683 per cent on paid up equity capital was declared.

HSCC CMD Gyanesh Pandey informed the Board about the remarkable growth of the company during financial year 2015-16 wherein the total turnover achieved by the company was Rs 1106.98 crore as compared to Rs 575.77 crore in the previous year which is a "significant and remarkable" growth of 92.26 per cent, the statement said.

The statement said that in FY 2015-16, HSCC has posted pre-tax profit of Rs 87.98 crore as against Rs 37.95 crore during previous year thereby achieving 131.83 per cent growth in pre-tax profits for the year 2015-16.

The company earned an excellent net profit of Rs 54.62 crore (FY 2015-16) as compared to 24.54 crore earned in previous year posting 122.58 per cent growth.

"This is the 32th consecutive year the company declared the dividend. Upon paying this year's dividend, cumulative dividend paid to would be Rs 56.90 crore, around 24 times of current paid up equity capital of the company.

"This performance is particularly remarkable when viewed against the backdrop of the extremely challenging business context in which it was achieved, namely, a slowdown in the economy and high levels of inflation," the statement added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 20:28 IST