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HPMC achieves record turnover of Rs 72 cr in FY16

Press Trust of India  |  Shimla 

Marketing Corporation (HPMC) achieved its highest sales turnover of Rs 72 crore during 2015-16, a senior official said.

The Corporation registered an overall growth of about 73 percent over previous year and the sales target has been increased to Rs 91.17 crore for the current financial year, HPMC Vice-Chairman Prakash Thakur said.

At a meeting of the company's Board of Directors, Thakur said the Corporation has been able to reduce its losses from Rs 6.52 crore to Rs 2.86 crore during 2015-16 and efforts are being made to turn profitable this fiscal.

He further said that during the current apple season, HPMC procured about 7602.665 tonnes of the fruit worth about Rs 494.17 lakhs under the Market Intervention Scheme.

It also produced about 458.66 tonnes of apple juice concentrate till October 13, 2016.

The Corporation has so far procured about 8,000 crates of quality apples directly from farmers on outright purchase basis in Kullu district and would be procuring more during the next couple of months.

He said that all the fruit has been stored in Controlled Atmosphere Store at Patlikuhl set up by HPMC recently and the same would be marketed through various retail outlets during off season from April - June 2017, which would generate good revenues.

The Controlled Atmosphere Stores of the Corporation at Gumma, Jarol- Tikkar, Rohru, Oddi in District Shimla and Patlikuhl in Kullu have been packedto capacity with apples both by farmers and bulk buyers, he added.

The Corporation would also be make elaborate arrangements with reputed companies/ suppliers for the procurement of quality farm inputs like fertilizers, manures, tree spray oil, tools and implements for further supplies to farmers at competitive prices.

The board also approved the release of 6 per cent Dearness Allowance to HPMC employees with effect from January 1,2016.

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

First Published: Sat, October 15 2016. 21:32 IST