NSC pays Rs 103 lakh dividend to govt

New Delhi, Nov 2 (UNI) The National Seeds Corporation (NSC) achieved an all-time record turnover of Rs 158.86 crore during 2006-07, registering growth of more than 45 per cent over the previous year.

The net profit stood at Rs 13.05 crore marking a 200 per cent increase over 2005-06.

Considering the impressive financial results, NSC has declared a dividend of five per cent for the year 2006-07. The dividend cheque amounting to Rs 103 lakh was presented to the Minister of Agriculture, Food and Public Distribution Sharad Pawar by NSC CMD B B Pattanaik here today.

NSC has taken several initiatives for bringing improvement in its performance, which include forging Strategic Business Alliances for production, processing and marketing of seeds through Private-Public Partnership with various State Governments, State Seed Corporations and leading seed companies in the private sector.

During 2006-07, NSC entered into marketing of planting material of horticultural crop, bio-fertilisers, BT Cotton seeds, etc through tie-up arrangements and introduced several new and improved varieties and hybrids of seeds.

NSC is set to achieve a turnover of Rs 175 crore during the current financial year.

UNI