MSTC gives Rs 15.81 crore interim dividend to government

NEW DELHI: State-owned MSTC Ltd today presented an interim dividend of Rs 15.81 crore to the government for 2011-12.

"Steel Minister Beni Prasad Verma has received the interim dividend cheque of Rs 15.81 crore of MSTC Ltd here today... The interim dividend paid by the company for 2011-12 was 800 per cent of its paid up capital," an official statement said.

MSTC, which is an unlisted e-commerce central public sector firm, has reported a profit after tax of Rs 115 crore in last fiscal, registering a growth of about 15 per cent over the previous year, it added.

During the last financial year, its turnover increased by about 53 per cent to Rs 21,532 crore.

Besides e-commerce, the company also has a traditional business of disposal of re-usable scrap and in FY'12, it sold scrap worth Rs 3,192 crore.

The company also auctioned 18.8 million tonnes of iron ore from Bellary in Karnataka and NMDC, the statement further said.