Railway Minister Receives Cheque of Interim Dividend from Pipava Railway Corporation Limited

New Delhi, September 29, 2014: The Minister of Railways D.V.Sadananda Gowda received a cheque of `Rs. 19.60 crore as an interim dividend of 20% for the financial year 2014-15 from D P Pande, Member Traffic, Railway Board and Chairman, Pipava Railway Corporation Limited (PRCL), here today. Arunendra Kumar, Chairman, Railway Board, and Amitabh Lal, Managing Director, PRCL was also present among others on the occasion.

It was a proud moment for the Company, which is the first flagship Joint Venture Company of Ministry of Railways and Gujarat Pipavav Port Limited (GPPL), under Public Private Partnership (PPP) in Railway Infrastructure. The interim dividend for the current FY 2014-15 was approved by the shareholders in their meeting held on 24th September 2014.

The SPV Company has constructed, operates and maintains the Surendranagar - Pipavav 270kms railway line since April 2003. During 2013-14, the Company has carried 8.71 MT of cargo on the Pipavav line and earned revenue of Rs. 232.21 crore from its freight operations as compared to 6.86 MT of cargo moved and revenue of Rs. 178.98 crore earned during 2012-13, indicating a growth of 30% in revenue. Company has registered a profit of Rs. 96.59 crore (PBT) and Rs. 80.78 crore (PAT) and has a net worth of Rs. 272 crore as on 31st March 2014.

In the current financial year (2014-15) up to August 2014, the Company has carried 4.09 million tonnes (approx) of cargo and earned revenue of Rs. 98.65 crore (approx). The company proposes to strengthen rail infrastructure in the Section in order to meet the growing requirement of Pipavav Port as well as other industries in its area of operation. Investment of over Rs. 100 crore are planned in infrastructure in the coming years.
-----------------------------
Readers may send their news/views/feedback to us:
[email protected]