STC presents 35 pc dividend cheque to Kamal Nath

New Delhi, Feb 5 (UNI) State Trading Corporation (STC) today presented a dividend cheque of Rs 9.56 crore to Commerce Minister Kamal Nath.

Comprising 35 per cent interim dividend for 2007-08, the cheque was presented by STC CMD Arvind Pandalai.

During April-December 2007, the state-run corporation's profit went up by 40 per cent over the corresponding period of the previous year. Its turnover crossed that Rs 11,000 crore mark during this nine-month period, surpassing the proportionate MoU target by 48 per cent, an official statement said.

STC's exports grew by over 60 per cent to reach past the Rs 3,000 crore mark, while imports at Rs 7,424 crore exceeded the roportionate MoU target by 36 per cent.

Its wheat imports were valued at Rs 1,500 crore during these nine months of the current fiscal as against Rs 4,200 crore worth of wheat imported by it during April-Deccember 2006 period, the statement added.

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