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  1. Profit-making Pawan Hans pays Rs 5.52 crore dividend to government

Profit-making Pawan Hans pays Rs 5.52 crore dividend to government

State-run chopper operator Pawan Hans has paid Rs 5.52 crore to the government as dividend after it reported a net profit of Rs 36.08 crore for the 2015-16 fiscal year.

By: | New Delhi | Updated: February 1, 2017 8:28 PM
The new website has been designed to provide the ultimate user-friendly experience with improved navigation and functionality throughout for customers delight. (PTI) The new website has been designed to provide the ultimate user-friendly experience with improved navigation and functionality throughout for customers delight. (PTI)

State-run chopper operator Pawan Hans has paid Rs 5.52 crore to the government as dividend after it reported a net profit of Rs 36.08 crore for the 2015-16 fiscal year. The dividend cheque was presented to Civil Aviation Minister Ashok Gajapathi Raju at a function held here yesterday which was also attended by Pawan Hans chairman and managing director B.P. Sharma, civil aviation secretary R N Chobey and other senior officials, an official release said.

The minister on this occasion also launched Pawan Hans’ re-designed website and mobile app for convenient and user- friendly booking of its chopper services by customers, it said. The government owns 51 per cent in Pawan Hans through the civil aviation ministry while 49 per cent stake is with another state-run entity, ONGC. Set up in 1985, Pawan Hans currently has a fleet of 46 helicopters.

Significantly, the government has already announced its plans to sell its stake in the firm and transfer the management control of the helicopter service operator. “Pawan Hans paid dividend of Rs 10.82 crores to government of India and ONGC for the financial year 2015-16,” the release added.

The new website has been designed to provide the ultimate user-friendly experience with improved navigation and functionality throughout for customers delight. E-Portal for online charter and e-ticket booking, which is also a part of the revamped website, aims at providing ease of booking cashless tickets to passengers to promote Digital India initiative of the government, the release said.

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“Pawan Hans earns operating profit of Rs 61.6 cr for 2015-16 & pays dividend to ONGC & Central Govt. Well done,” Raju said in a tweet. The government has sought applications from entities to act as transaction advisor for the proposed disinvestment of its stake in the company.

“The government of India intends to divest its entire shareholding of 51 per cent in Pawan Hans Ltd, through strategic disinvestment with transfer of management control,” a public notice issued early last month said. As per the notice, issued by the Department of Investment and Public Asset Management, a transaction advisor is to be roped in from “reputed professional consulting firm, investment bankers, merchant bankers, financial institutions and banks” who would provide advisory services and manage the strategic disinvestment process. The deadline for sending the applications ends tomorrow.

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