RITES, IRCON present dividend cheques

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New Delhi, Oct 9 (UNI) RITES Ltd, a consultancy organisation under Railway Ministry, and IRCON International Ltd, a Public Sector Undertaking of the ministry, have presented dividend cheques of Rs 40 crore and Rs. 5.63 crore respectively for the financial year 2006-07.

The dividend cheques were presented to Railway Minister Lalu Prasad by RITES Ltd Managing Director V K Aggarwal and IRCON Managing Director Ankush Krishan here yesterday.

RITES achieved a turnover of Rs 566 crore with profit after tax of Rs.118 crores for the fiscal 2006-07. The dividend payment of Rs.

40 crore on equity capital of Rs. 4 crore is the highest ever paid by the company.

Recently, Prime Minister Manmohan Singh had presented to the RITES the 'SCOPE Award for Excellence' for the outstanding contribution to the Public Sector Management.

IRCON's dividend of Rs. 5.63 crore is in addition to the interim dividend of Rs. 20.04 crore already paid to the Railway Ministry in February, bringing the total amount to Rs. 25.67 crore, which is 34 per cent of its post-tax profits and 260 per cent of the share capital.

Over the years IRCON has paid a cumulative dividend of Rs. 187 crore to its shareholders against the paid up share capital of Rs.

9.898 crore.

IRCON, a schedule 'A' Public Sector company achieved a record turnover of Rs. 1543 crores during 2006-07, 39 per cent more than last year.


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