Pawan Hans pays Rs.8.92 crores dividend to the Government

Pawan Hans Helicopters Ltd.(PHHL), a Government of India Enterprise under the Ministry of Civil Aviation, has paid a dividend of Rs. 11.37 Crores for the Financial Year 2008-09 @ 10% of its paid up equity to its shareholders i.e. President of India/Ministry of Civil Aviation & ONGC. The paid up Capital of the Company is Rs.113.76 Crores with Government of India holding 78.5% and balance 21.5% being held by ONGC. The Company has been consistently paying dividend since 1992-93 and till date has paid Rs. 205.88 Crores.

Shri R.K. Tyagi, CMD, PHHL presented the dividend cheque of Rs. 8.92 Crores (Government of India share) to Shri Praful Patel, Minister for Civil Aviation, Shri M.M. Nambiar, Secretary, Ministry of Civil Aviation and other senior officers of the Ministry of Civil Aviation.

PHHL’s operating profit has increased from Rs.6.21 Crores (2007-08) to Rs.20.30 Crores (2008-09). In the current year the operating profit of the company till December 2009 is Rs. 28.00 Crores.

The Company has been able to secure good long term business with the institutional clients mainly in the Oil industry and Government sector which has resulted in improved utilization of helicopter fleet. The Company was able to achieve improved financial performance as compared to previous year on account of long term contracts, better charter rate structure with high revenue yield and increased utilization of helicopters through improved serviceability of fleet.

The Minister appreciated the good work being done by the Company and has assured the support of the Government to enable it to grow further.

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MC/MK