STC posts Rs 100cr profit, record turnover of 101%

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New Delhi, Sep 26 (UNI) State Trading Corporation (STC) today set a record in its turnover, which went up 101 per cent, at Rs 1,500 crores during the year 2006-07 as compared to last year.

The Group also posted a net profit of Rs 100 crore during the year 2006-07.

For the fiscal 2007-08, the company has taken several initiatives like adding pipelines to generate additional turnover and profitability and expanding overseas steel operations.

The Corporation will also import about 1.3 million MT of wheat on Government directives.

A Commerce Ministry statement said that the Corporation is examining possibilities to enter into long-term arrangement with the Malaysian Government for undertaking import, refining and packaging of edible oils for sale in the domestic market, under its own brand name.

The Corporation also declared a final dividend of 40 per cent over and above an interim dividend of 20 per cent already paid to the shareholders, taking the total to an all time high dividend payment of 60 per cent.

Exports went up to a record Rs 2,927 crore--up 167 per cent than the exports of Rs 1,095 crore during last year. While imports to went on to a record high of Rs 10,692 crore, up 95 per cent than the imports of Rs 5,493 crore during last year.

UNI

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