State public sector undertaking Haffkine Bio Pharmaceutical Corporation has posted an all-time record turnover of Rs 62 crore in the1996-97 financial year. This has enabled the company to declare an interim dividend of 20 per cent of the paid-up equity capital.
Briefing newspersons on Monday Haffkine chairman Dr Shyam C Agrawal said that a pre-tax profit of Rs 12 crore was achieved as a result of the record turnover.
The previous years turnover was Rs 45.67 crore and pre-tax profit was Rs 4.53 crore.
According to Haffkine managing director, Chand Goel, the 20 per cent interim dividend is the highest declared so far by any public sector undertaking in Maharashtra.
He said the 35 per cent growth reflected in the record turnover was due to a well defined action plan leading to rapid increase in production and sales, improvement in product mix as well as increase in plant and manpower productivity.
He said that the corporation had come a long way since 1993-94 when it had accumulated losses to the tune of Rs 12 lakh in 1993-94 even as it recorded a turnover of Rs 18 crore.
Future plans of the corporation include setting up of an aids diagnostic laboratory in Mumbai, a joint venture for manufacture of measles vaccine, biological insecticides and redenticides besides production of rabies anti-serum soon.
The Haffkine subsidiary, Haffkine Ajintha Pharmaceut-icals, also posted a record turnover of Rs 825 lakh as against last years turnover of Rs 614 lakh. The board of directors has decided to pay an interim dividend of 55 per cent of paid up equity capital.
Agrawal said efforts were on to upgrade technology for manufacture of anti-rabies vaccine. The corporation has in May last year decided to invest Rs 60 crore over the next five years for its vaccine and sera production, research and development and diversification into new hi-tech areas.
