|ONGC receives dividend of Rs 2.45 crore from PHHL for FY 2008-09|
19 January, 2010
ONGC received an amount of Rs. 2.45 crore from Pawan Hans Helicopters Ltd. (PHHL) towards dividend payment for FY 2008-09 on Jan 18,2010 in New Delhi. Pawan Hans has an Equity Capital of Rs. 113.76 crores with ONGC equity aggregating to Rs. 24.50 crores (21.5%) and GOI equity of Rs. 89.26 crores (78.5%).
Receiving the cheque, Mr R S Sharma, CMD, ONGC and Chairman ONGC Group of companies said, "We look forward to cement and consolidate our business and operational synergies with PHHL by way of a collaborative effort. ONGC while congratulating PHHL in its silver jubilee year looks forward looks to a safe and secure logistical support from PHHL for its various critical offshore operations".
Dividend Cheque - CMD ONGC, Mr. R S Sharma on left seen with CMD PHHL, Mr. R K Tyagi on right. Also seen in the picture are ONGC Board Members.
PHHL has been regularly paying dividend to the Govt. of India . and ONGC since last 17 years. Against the ONGC's equity share of Rs. 24.50 crores, PHHL has till date paid Rs. 45 crores to ONGC as dividend.
Note to Editors:
PHHL has till date logged more than 4,50,000 hours of flying by carrying out more than 15 lacs landings for ONGC and other customers.
With the support of ONGC, PHHL has played a vital role in spearheading the growth of Helicopter Industry in India in providing vital offshore support services. At the same time, PHHL has also been meeting the crucial air support requirements by connecting inaccessible and remote areas of the country in the North-East and inter-island connectivity at Andamans and Lakshadweep.
Pawan Hans Helicopters Ltd. (PHHL), an ISO 9001:2000 certified Company, was incorporated in 1985 and commenced offshore operations in Oct' 86 committed mainly for ONGC task for the last over 23 years.