The Union Minister of Steel, Shri Beni Prasad Verma has received the Interim Dividend cheque of Rs. 15.81 crore of MSTC Ltd. here today. The cheque was presented by the CMD of MSTC Shri S.K. Tripathi. The Interim Dividend paid by the company for the Financial Year 2011-12 was 800% of the paid up Capital.
For the year 2011-12, the company reported Profit Before Tax (Provisional) of Rs.175.06 Crores which is 17% higher than last year. The Profit After Tax (Provisional) for this period was Rs. 115.00 crore which is about 15% more than the PAT of 2010-11. Volume of business was Rs.21532 Crores, 53% more than last year. MSTC Ltd. is an e-commerce Central Public Sector Undertaking (CPSU) in the country and its profit per employee is Rs.55 Lakhs, which is one of the highest among all e-commerce companies in Public as well as Private Sector.
MSTC Ltd. has a traditional business of disposal of re-usable scrap. During this year, scrap of Rs.3192 Crores has been sold. MSTC Ltd. has also auctioned 18.8 Million Tons Iron ore from Bellary and NMDC Ltd.
MSTC’s e-commerce services have led to transparent pricing of products to the satisfaction of both buyers and sellers. MSTC’s e-commerce portal is a fair and prompt electronic market place for carrying out genuine trading activities in the country.