Steel Minister asks Mecon to improve performance
New Delhi: Steel Minister Beni Prasad Verma on Monday said he was not happy with the half-yearly performance of consultancy firm Mecon and asked it to concentrate more on procuring projects.
"Compared to last year, Mecon's turnover in the first half of the current fiscal is low. Net profit is also down. I am not happy with the company's performance," Verma said after reviewing the performance of the company here.
Mecon had clocked Rs 643 crore turnover during the entire 2011-12 fiscal and it targets Rs 650 crore turnover in the current fiscal.
The Minister asked Mecon to concentrate more on procuring projects in areas like slurry pipeline, pelletisation and beneficiation plants.
At a review meeting of the company, he also advised Mecon to increase its turnover, which fell below the target set for the first half of the current fiscal and to achieve greater heights in terms of performance.
"During the first half of the current financial year, Mecon has procured jobs worth Rs 411.29 crore against an MOU target of Rs 535 crore for the financial year," an official statement said.
The company's turnover during the period stood at Rs 154.27 crore.
"During the first half of 2012-13, Mecon has entered into contract agreement and rendered project management and construction management services for many important project across the country," it said.