STC PAYS INTERIM DIVIDEND OF 20 % TO THE GOVERNMENT
OVER 100% INCREASE IN PROFITS & TURNOVER IN APR 06-JAN 07
Date : 01 Mar 2007
Location : New Delhi
State Trading Corporation of India Ltd. (STC) has paid an interim dividend of
20% for 2006-07 on its equity capital to the Government of India. The dividend
cheque for Rs 5.46 crore was handed over to the Union Minister of Commerce &
Industry, Shri Kamal Nath by Dr. Arvind Pandalai, CMD-STC here today.
The interim dividend was paid in view of increase of over 100% in the profit
during Apr.’06-Jan.’07 over the corresponding period last year. During this
period, import turnover of about Rs 9200 crore has been achieved, marking an
increase of over 100
%. “STC should close the year with record turnover and
profitability” said Dr. Pandalai.
this occasion, Dr. Pandalai informed that during the period, STC has further
expanded its overseas steel operations, which are now also being undertaken in
Bulgaria besides Philippines. These operations have been major growth drivers on
export front in addition to the exports of chemicals & pharmaceuticals and
jewellery. The total exports have surpassed Rs 2000 crore.
import front, STC has successfully discharged the responsibility assigned by the
Government of India in arranging import of 55 lakh MT of wheat into India as per
the schedule given by the Govt. STC also arranged substantial imports of items
like bullion, hydrocarbons, minerals & metals, edible oils, pulses, etc.