WBSIDC stages a turnaround after 20 years

Kolkata, Apr 20 (UNI) The West Bengal Small Industrial Development Corporation (WBSIDC) came out of red after a hiatus of 20 years, earning a profit of Rs 2.66 crore.

WBSIDC Managing Director A Subaiyya said, " Despite a dip in the net sales WBSIDC has earned a profit. " Volume of sales stood at Rs 17.30 crore in 2005-06 compared to Rs 14.467 crore previous fiscal.

The unaudited operating loss for 2005-06 was Rs 5.59 crore, while for 2006-07 it was Rs 14 Lakh.

The accumulated loss amounted to Rs 40 lakh during the last financial year.

Attributing the increase in the unaudited net profit to the increase in WBSIDC income, Mr Subaiyya said, " In comparison to previous year the rent and arrear collection has jacked up as weel as the government aid and Joint Venture fees. " Official records stated an increase in the rental income from industrial estates by 0.30 per cent and income from transfer of ownership by 30 per cent, while commercial development fees had generated an income of Rs 6.45 crore and the revenue from marketing of furniture and soaps reached Rs ten crore compared to earlier years' Rs seven crore.

The Cash Reserve of WBSIDC had also increased by four per cent.

Time-bound collection from Sundry Debtors and one time assistance from the state government, ranging from Rs 6-17 crore, had also boosted the losing proposition, Mr Subaiyya informed.

UNI