CWC gives dividend of Rs 15.34 cr for 2012-13 to govt

State-run Central Warehousing Corporation (CWC) on Thursday presented a dividend cheque of Rs 15.34 crore for financial year 2012-13 to Food Minister K V Thomas.

IANS| Last Updated: Nov 21, 2013, 22:15 PM IST

New Delhi: State-run Central Warehousing Corporation (CWC) on Thursday presented a dividend cheque of Rs 15.34 crore for financial year 2012-13 to Food Minister K V Thomas.

CWC has posted net profit of Rs 139.55 crore during the 2012-13 fiscal, up by 39.5 per cent from the previous year. It had handled about 11 lakh TEUs (twenty feet equivalent of boxes) last year.

"Keeping in view the excellent financial results, CWC has declared dividend for fiscal 2012-13 at the rate of 41 per cent. CWC Managing Director B B Pattanaik, presented a cheque of Rs 15.34 crore to Food Minister K V Thomas," an official statement said today.

The CWC had achieved a record turnover of Rs 1407 crore during 2012-13 as against Rs 1219 crore of the preceding year, registering a growth of 15.42 per cent, the statement added.

Turnover of CWC was high mainly on account of increase in overall capacity utilization (occupancy) to 93 per cent as against 91 per cent achieved during previous year.

Congratulating CWC for its performance, Thomas urged CWC to undertake creation of storage capacity on a large scale more particularly in the deficit states like Bihar, West Bengal, Jharkhand and others.
CWC provides scientific storage facilities for farm inputs, produce and other notified commodities besides providing logistics infrastructure for import-export cargo.
As on November 1, 2013, CWC was operating 465 warehouses with a total storage capacity of 105.58 lakh tonnes with an average capacity utilisation of 89 per cent.