The Hindu Business Line : Lakshadweep corpn cash profit goes up

LAKSHADWEEP Development Corporation Ltd, a wholly owned Government of India undertaking, made a cash profit of Rs 66.51 lakh during the accounting year 2002-03, against the previous year's figure of Rs 23.69 lakh.

The corporation is expected to improve its profit figures from the present level to about Rs 2 crore during the current year, Mr K.S. Mehra, Chairman of the corporation, said in a statement issued here.

The corporation has plans to manage and operate 21 small, medium and big ships of the Lakshadweep Administration, which is being constructed in various shipyards. It also made a breakthrough in the field of export of Skipjack Tuna. It is planning to continue the project on a higher scale this year and has tied-up with buyers in Far East and other African countries.

The Yellow Fin Tuna project will also be continued during the current year on a larger scale. Necessary marketing arrangements have been entered into with a Japanese company. Mr Mehra said the Ornamental Fish Hatchery would be commissioned during December and exports were expected soon thereafter. The corporation has also set up a coconut milk unit in Androth island.

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