The government-run chopper operator Pawan Hans has reported an annual net profit of Rs 38.81 crore in the 2014-15 fiscal, up by Rs 24 lakh from last year.
The company had reported a net profit of Rs 38.57 crore in financial year 2013-14. Sales during the last fiscal stood at Rs 538.15 crore as compared to a revenue of Rs 529 crore, Pawan Hans said today.
Pawan Hans, which held its 30th annual general meeting last week, has also declared a dividend of Rs 7.76 crore to the central government, the company said in a release.
Besides Chairman and Managing Director B P Sharma, the AGM was attended by Director General of Civil Aviation M Sathiyavathy and Joint Secretary in the Ministry of Civil Aviation Usha Pathee as well as a representative from ONGC, among others, it said.
Pawan Hans is a joint venture firm with the central government holding majority 51% stakes while the rest 49% are held by the state-owned Oil and Natural Gas Corporation (ONGC) Limited.
During the meeting, Sharma presented expansion plan to the shareholders in the areas of seaplane services, small fixed wing operations and setting up of more heliports/ helipads in the country to promote regional connectivity, the release said.
Besides, other plans such as setting up of a maintenance, repair and overhaul (MRO) facility and skill development centre for technical and operational staff were also presented at the meet, it said.
Pawan Hans operates from across 21 bases, touching 65 sectors with a fleet of 53 choppers with an average 90 hour per day flying. Of these 53 choppers, 46 are owned by the company while the rest are on operation and management lease.
