Government currency PSU mints Rs 240 crore dividend amid Covid-19
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Businesses around the world were struggling to cope up with running losses amid the pandemic, but the government mint was able to pay Rs 240 crore dividend to the government, an official statement said on Monday.
During the fiscal year 2020-21, the government mint, the Security Printing and Minting Corporation of India Ltd, produced 828.8 crore bank notes, 275.7 crore circulating coins, 6,870 metric tons of security paper, and 600.42 metric tons of security inks, a Finance Ministry statement said
On Monday, SPMCIL Chairman-cum-Managing Director Tripti P. Ghosh and Director, Finance, Ajay Agrawal gave the cheque of Rs 240.41 crore of the final dividend for FY. 2020-21 to Finance Minister Nirmala Sitharaman.
As per the statement, the SPMCIL has paid a final dividend of Rs 240.41 crore to the government for FY 2020-21 being 5 per cent of net worth of the Company as at March 31, 2021 - 57 per cent of profit after tax (PAT) for FY 2020-21 in compliance of DIPAM guidelines.
The SPMCIL has achieved the targets in the production of bank notes, coins, security paper, passports, security inks and other security products during the year 2020-21.
During the year, revenue from operations of the company was Rs 4,712.57 crore and profit before tax is Rs 789.74 crore.
The SPMCIL is a Schedule 'A' Miniratna Category-I Central public sector enterprise, wholly-owned by the government and under the administrative control of Department of Economic Affairs of the Finance Ministry.
