MSTC to pay 840 per cent dividend for FY'08

Kolkata, Sep 9 (UNI) MSTC, a leading e-commerce service provider and a trading house in bulk raw material, has proposed to pay 840 per cent dividend for 2007-08 after notching up a net profit of Rs 92.4 crore with an equity base of Rs 2.2 crore.

Informing this, an MSTC communique today said the company aimed at foraying into warehousing and logistics through joint ventures (JVs), adding it had already invested Rs ten crore for setting up a warehouse at Haldia, which was expected to be commissioned in November.

MSTC, a public sector enterprise (PSE) under the Steel Ministry and a mini Ratna Category-I company, had earned a total PAT of Rs 263 crore in the past five years from 2003-04, along with paying a dividend of around Rs 53 crore and Rs 147 crore income tax to the Union government.

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