Utility Stores Corporation Posts Highest-Ever Sales of Over Rs. 137 Billion in FY23

Utility Stores Corporation has recorded its highest-ever recorded sales of Rs. 137.155 billion for the fiscal year 2022-23 (FY23). Notably, the net profit for the state-run utility in the last financial year amounted to Rs. 764 million. The increase is being attributed to government subsidies on essential items such as flour, sugar, ghee, pulses, and rice. It bears mentioning that USC has been consistently profitable for three consecutive years. In FY22, the sales figure stood at Rs. 112.32 billion, while it clocked in at Rs. 120.24 billion in FY21. The sales of utility stores in FY20 amounted to Rs. 53.32 billion, and Rs. 9.685 billion in FY19. Conversely, the state-run entity faced a loss of Rs. 6.373 billion in FY18.