Monday, November 29, 2010

MSTC LTD. Presents Dividend Cheque to Steel Minister

The Chairman-cum-Managing Director of MSTC Limited, Shri S.K.Tripathi today presented a cheque of Rs. 15.48 crore to the Union Minister of Steel, Shri Virbhadra Singh as a dividend for the year 2009-2010.

MSTC limited is a Government of India Public Sector Undertaking engaged in Trading under the administrative control of Ministry of Steel. Government of India holds 89.85% of shares in MSTC. The Company has reported a Profit After Tax (PAT) of Rs. 86.10 crores for the 2009-10 and declared a dividend 783% on its paid up share capital. In addition, Rs. 66.08 crore approx. was transferred to reserves of the Company taking them to Rs.406.28 crore as on 31.3.2010. MSTC is a cost effective company operating with a total manpower of 316 persons. Its per employee Profit After Tax comes to Rs. 27.25 lakh, which is one of the highest among the public enterprises. MSTC is a schedule ‘B’ Miniratna Category –I Company and is giving dividend continuously since its inception.

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