HLL Lifecare pays Rs 122.47 crore dividend to health ministry

New Delhi: State-owned HLL Lifecare Limited has paid a dividend of Rs 122.47 crore to the health ministry for financial year 2021-22, an official statement said.

The cheque was presented to Union Minister of Health Mansukh Mandaviya by Beji George, Chairman and Managing Director, HLL at an event here on Wednesday.

HLL had a record turnover of Rs 35,668 crore and a profit before tax of Rs 551.81 crore in financial year 2021–22.

Mandaviya said the company played an important role in the procurement and distribution of emergency medical supplies during the pandemic, supporting the Union Health Ministry in managing COVID-19.

"As a nodal agency for procurement and supply of emergency medical items for COVID -19 pandemic management, it has enabled real time management of the crisis," Mandaviya added.

He further noted that though PSUs were established with great vision, their performance has not always been satisfactory, the health ministry statement said.

Expressing concern over sustainability of PSUs, he pointed out that “financial discipline and responsible behaviour are key aspects for sustainability of PSUs.” HLL was incorporated on March 1, 1966 to produce contraceptives to support the government's family planning programme.

While focusing and expanding the core areas i.e., reproductive healthcare, HLL diversified into other healthcare segments like hospital products, hospital infrastructure management, medical equipment procurement consultancy, diagnostic services, retailing of pharmaceuticals etc, the statement said.