SIPCOT generates highest ever revenue

The State Industries Promotion Corporation of Tamil Nadu run by the Tamil Nadu Government has registered its highest ever revenue at Rs 454.31 Crore.
"During the financial year 2015-16, SIPCOT garnered revenues of Rs 454.31 crore with net profits of Rs 99.96 crore", an official release said.
Stating that the company has been generating dividends since 2005-06, the release said the dividend amount of Rs 34. 75 crore for the period 2015-16 was handed over to the Industries Minister M C Sampath by SIPCOT Managing Director, R Vasuki.
The dividend is the highest ever amount generated by SIPCOT in the last 11 years, it added.

SIPCOT assists industries to set up shops at various places across Tamil Nadu.
It is the nodal agency to ensure disbursal of financial incentives resulting in spurt in industrial growth in backward and under developed areas.