The Odisha State Beverages Corporation limited (OSBC) has paid to the State Government a dividend of Rs 10.88 crore for the year 2015-16. Excise Secretary and OSBC Chairman Bishnupada Sethi presented the cheque to Chief Secretary AP Padhi on Friday.
The OSBC in 2015-16 had a sales turnover of Rs 3,878.39 crore and earned a profit-after-tax of over Rs 36.29 crore. The dividend to the Government is 30% of the profit after tax.
Against an Excise Duty target of Rs 1,787.50 crore, the OSBC deposited Rs 1,815.85 crore in the State exchequer in 2015-16. It also donated Rs 10 crore to the Chief Minister’s Relief Fund during the year.
With the Government taking over the monopoly right in wholesale trade of IMFl and country spirit, the OSBC was incorporated as a Government company in November 2000.
While the OSBC purchases IMFl, beer from suppliers, manufacturers who are registered under it, country spirit is purchased from the Aska-based ACSIl. It sells IMFl, beer and country spirit to the licenced retail vendors at its depot points.
The OSBC would soon open new depots at six places preferably at Bhubaneswar, Puri, Paradip, Rourkela or Sundargarh, Jashipur and Jeypore, sources said.
