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Andhra Pradesh
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Hyderabad
Handicrafts Corporation pays dividend to government
HYDERABAD: The Andhra Pradesh Handicrafts Development Corporation Limited has targeted a sales turnover of Rs. 60 crore during the current financial year.
The Corporation notched sales of Rs. 52 crore during 2007-08 and made a net profit of Rs. 1.5 crore. Industries Minister J. Geeta Reddy handed over a cheque for Rs. 7.51 lakh to Chief Minister Y.S. Rajasekhara Reddy towards payment of dividend to the State government on Thursday.
Speaking to reporters later, she said a dividend of Rs. 2.5 lakh would be paid to the Central government which provided financial assistance of Rs. 50 lakhs to the corporation. The Congress government revived the corporation that faced closure during the previous Telugu Desam regime, the Minister added.
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