Saturday January 3, 01:31 AM

Source: Indian Express Finance

HSIIDC announces all-time-high dividend

By Charanjit Ahuja
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has declared an all-time-high dividend of Rs 7.5 crore for 2007-08 fiscal year. The amount is the highest in the 41-year history of the corporation. The dividend cheque was presented to the Haryana chief minister Bhupinder Singh Hooda by M L Tayal, principal secretary to the CM and also chairman of the corporation. The corporation has registered a quantum jump of 67 % in its net profit after tax and dividend during the 2007-08 fiscal from Rs 26.26 crore during 2006-2007 to Rs 43.78 crore during 2007-08. Tayal informed that the corporation has contributed to its high growth trajectory and maintained a consistent record by earning a gross profit of Rs 90.27 crore this year against the earlier record of Rs 40.89 crore during the previous year. The gross income during the year has also exceeded the target and touched a figure of Rs 106.35 crore as compared to Rs 57.05 crore during the previous financial year. The net worth also registered a significant increase from Rs 678.43 crore last year to Rs 770.66 crore during this fiscal. The term loan activity of the corporation also achieved a significant growth during this year. The corporation sanctioned term loans to the tune of Rs 91.23 crore this year. The disbursement and recovery stood at Rs 55.02 crore and Rs 73.04 crore respectively during this period.