Industries Minister Harshwardhan Chauhan presided over the 231st meeting of the Board of Directors of HP General Industries Corporation Ltd. here today. During the meeting, the Board approved a seven percent dividend payment to the State Government for the financial year 2022-23, amounting to Rs. 50,06,978.
This dividend represents a two percent increase over the State Government's standard directive of five percent. The Minister praised the Corporation's strong performance during April to May 2024, in which it reported a profit of approximately Rs. 2.85 crore.
In addition to approving the annual accounts for the financial year 2022-23, the Corporation's net profit was Rs. 1.33 crore for the period. He said that the Board also approved the budget for the financial year 2024-25, with the Corporation expected to earn a profit of approximately Rs. 10 crore.
The Managing Director of the Corporation Arindam Chaudhary apprised the BoD of the major activities being undertaken by the Corporation. Principal Secretary Industries R.D. Nazeem and Director Industries Rakesh Kumar Prajapati were also present in the meeting.