Rashtriya Ispat Nigam Ltd PAT for FY12 at Rs 751 crore

VISAKHAPATNAM: State-run Rashtriya Ispat Nigam Ltd ( RINL's) Profit after Tax (PAT) for FY12 grew 14 per cent at Rs 751 crore, a top company official said today.

The company also declared dividend for year 2011-12 at the rate of 10 per cent of PAT for equity shareholders and 7 per cent on preference share capital with a cash outflow of Rs 218 crore, RINL CMD A P Choudhary told an AGM of the company here.

"RINL has registered overall good performance in the year bygone while earning excellent rating for the third consecutive year on the MoU signed for year 2011-12 with the Ministry of Steel," he said while addressing the 30th AGM of the plant.

Under-Secretary to Government of India, Ministry of Steel, Sarita Taneja, attended the AGM on behalf of President of India as authorised nominee.