New Delhi, Feb 8 (PTI) The Indian Medicines Pharmaceutical Corporation has announced to pay a dividend of Rs 1.65 crore to its stakeholders - Ministry of AYUSH and Uttarakhand government.

The Indian Medicines Pharmaceutical Corporation (IMPCL) is a central public sector enterprise (CPSE) working under the AYUSH ministry.

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The dividend, in the form of a cheque, was handed over to AYUSH Minister Sarbananda Sonowal in a ceremony held at Ayush Bhawan on Tuesday, a statement by the ministry said.

Acknowledging the fact that IMPCL is a mini ratna company, Sonowal said the AYUSH system of medicines is being recognised worldwide and its market size is increasing as well.

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The IMPCL has paid 15 per cent dividend on profit after tax (PAT) which comes to Rs 1.66 crore, the statement said.

“The dividend proportion to Rs 1.63 crore to Government of India and Rs 3 lakh to M/s KMVN ltd for the year 2020-21. IMPCL is a public sector undertaking under the administrative control of AYUSH Ministry,” the statement stated.

“It is a joint venture company with the Centre having a share of 98.11 per cent, and Uttarakhand government having a share of 1.89 per cent. Certification line Company is presently manufacturing 656 Classical Ayurvedic, 332 Unani and 71 Proprietary Ayurvedic Medicines for the various diseases spectrum.

“Recently, IMPCL has been conferred WHO­GMP/CoPP certification by DCG(I) for 18 Ayurvedic products which gave the opportunity to explore export business,” it said.

IMPCL Managing Director Dr Mukesh Kumar said a total amount of Rs 1,62,64,182 was handed over by the company to Cabinet Minister of Ministry of Ayush as dividend for the year 2020-2021. Similarly Rs 3,13,315 was handed over to the State Government of Uttarakhand through Kumaon Mandal Vikas Nigam (KMVNL), a government undertaking working under the Uttarakhand government. Total amount of Rs 1,65,77,497 was handed over as dividend, the statement stated.

According to the official, though it was a challenging financial year for the operational activities due to COVID-19 pandemic, it has also given an opportunity due to increased demand of Ayurvedic medicines in general and immune boosting medicines in particular, which has contributed to all-time high turnover of Rs 164.02 crore and Profit Before Tax (PBT) of Rs 15.69 crore for IMPCL during 20-21.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)