NSC pays Rs 12.03 cr dividend to govt for FY'17
State-run National Seeds Corporation (NSC) has paid Rs 12.03 crore to the government in the form of dividend for 2016-17 fiscal.
The company, which is under administrative control of Agriculture Ministry, had paid a dividend of Rs 11.46 crore in 2015-16 fiscal.
In an official statement, the ministry said NSC has paid higher dividend on account of better performance, optimum utilisation of resources and lowering of costs.
In 2016-17, the company had reported a net profit of Rs 51.80 crore and a revenue of Rs 882.82 crore. It had assets worth Rs 186.40 crore as on March 2017, it said.
"NSC has paid highest ever dividend of Rs 12.03 crore to the Government of India which is 30 per cent of the effective Profit After Tax," it added.
During last fiscal, the company took several initiatives to boost domestic sales and exports. As many as 204 additional dealers were appointed for last mile connectivity for seed distribution, taking total dealers to 2,343.
Of the total seeds, production of new varieties, which were released in last five years, was 38 per cent in 2016-17.
The company gave preference to abiotic stress tolerance varieties, particularly of paddy, it added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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