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MMTC pays 25% interim dividend for 2006-07

Apr '07
A cheque for Rs.12.4 crore was presented here to Shri Kamal Nath, Union Minister of Commerce and Industry, by Shri Sanjiv Batra, Chairman & Managing Director, MMTC Limited, towards 25% interim dividend declared by the company for fiscal 2006-07 in its Board meeting held on 7th March, 2007.

MMTC, the largest international trading company of India, with a net worth of over Rs.925 crore and zero long-term debt shall be achieving its highest ever turnover of over Rs.23000 crore and a net profit after tax of about Rs.120 crore during financial year 2006-07.

The impressive performance is indicative of the success of strategic initiatives taken by the company and reflects the value creation through effective combination of goods, services and investment. The broad based growth in all business lines, debt free capital structure with adequate cash reserves and a sound net worth provides robust base for company's future growth.

MMTC has recently commissioned 15 MW wind farms in Karnataka which have started producing electricity. MMTC has also drawn ambitious business plans to expand its role as a trade organizer and facilitator by venturing into newer areas such as free trade warehousing zones, development of a cold chain, entering into long-term strategic alliances for energy inputs and enlarging existing franchisee network to provide outlets for its 'SANCHI' brand silverware besides entering into iron ore and coal mining.

The company would continue to pursue these efforts for achieving consistent growth in future and strengthen its base further, so as to provide value-added services and sustainable returns to its stakeholders.

Press Information Bureau

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