The Union Minister of Shipping GK Vasan was presented with a dividend cheque of Rs 40 crore by the Ennore Port (EPL) for the financial year 2012-13. The Chairman and Managing Director of the EPL MA Bhaskarachar presented the cheque to the Minister at a function in Chennai on September 17.
EPL, a Mini Ratna Government of India Undertaking made a post tax profit of over Rs 173 crore for 2012-13, against a profit of Rs 96.72 crore for the previous year. For 2012-13, EPL has declared a dividend of 20 per cent on its equity share capital of Rs 300 crore. It has also paid a dividend of Rs 20 crore to Chennai Port Trust, which is the only other share holder, besides the government of India, since 2008-09.
The Minister, while complimenting the EPL for enhancing its profitability, has said that the port besides contributing to the national economy has been taking up Corporate Social Responsibility (CSR) activities in and around Chennai.
Earlier, Vasan undertook a review of the Ennore Port and the Chennai Port Trust in terms of the traffic handled, on the status of modernisation and capacity addition projects. He urged them to adhere to the timelines for achieving targets on performance indicators and on commissioning of port development projects.
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