Date:12/10/2008 URL: http://www.thehindu.com/2008/10/12/stories/2008101253550600.htm

Tamil Nadu - Chennai

TANSI records Rs.14.75 crore profit for current financial year

Special Correspondent

— Photo: A. Muralitharan

NEW address: Union Minister of Shipping, Road Transport and Highways T.R.Baalu inaugurating the headquarters of TANSI in Chennai on Saturday.

CHENNAI: Transformation in the financial health of the Tamil Nadu Small Industries Corporation (TANSI) was the subject of discussion at a function to mark the inauguration of the Corporation’s head office at Guindy here.

A host of speakers, including Union Minister of Shipping, Road Transport and Highways T.R. Baalu, Minister for Rural Industries Pongalur N. Palanisamy and Mayor M. Subramanian, commended Chief Secretary K.S. Sripathi, who, they said, played a role in improving the finances of the Corporation when he headed the TANSI during 2006-2007.

Five years ago (2003-2004), the TANSI recorded a loss of Rs.90 lakh. Since 2004-2005, the situation changed and the Corporation netted a profit of Rs.9.7 lakh. In 2006-2007, the profit went up to Rs.95.9 lakh. The next year, it was Rs.7.25 crore.

For the first half of the current financial year, the net profit was Rs.14.75 crore. It was Rs.2.63 crore during the corresponding period of the previous year.

On the reasons for the turnaround, P. Balakrishnan, senior general manager of TANSI, said reduction in the strength of manpower, financial restructuring of the Corporation approved by the State government and outsourcing were among the factors.

R.K. Khanna, Chairman and Managing Director of the TANSI, said his organisation had bagged an order to the tune of about Rs.487.6 crore for supply, erection, testing and commissioning of power lines and infrastructure in 26 districts of the State under turnkey basis as part of the Rajiv Gandhi Grameen Vidhyutikaran Yojana (Rajiv Gandhi Rural Electrification Scheme). Mr. Palanisamy said the head office was constructed at a cost of Rs.89 lakh. He referred to the Rs.69-crore order that the TANSI had executed in supplying furniture to 1,530 schools in the State as part of the assistance of the National Bank for Agriculture and Rural Development (NABARD).