labels: trade
STC turnover zooms 101 per cent in 2006-07news
26 September 2007

The turnover of the State Trading Corporation (STC) rose by 101 per cent during the year 2006-07 as compared to the previous year. The STC Group has achieved a turnover in excess of Rs15,000 crore and a net profit of Rs100 crore during the year.

All time high net profit (PAT) of Rs88 crore, a rise of 127 per cent compared to the Rs39 crore achieved during 2005-06 on its highest ever turnover of Rs14,335 crore, which rose 101 per cent over 2005-06.

STC also increased its ales by 33 per cent to record its highest-ever domestic sales of Rs716 crore from Rs537 crore in the previous year.

However, its foreign trade performance has been particularly noteworthy. STC recorded its highest ever exports of Rs2,927 crore from last year''s Rs1095 crore, (a rise of 167 per cent) and handled imports worth Rs10,692 crore, which rose 95 per cent from Rs5,493 crore in 2005-06.

Sector wise trade handled by STC:

  • Record exports of steel raw materials: Rs1,816 crore
  • All-time high chemicals, drugs and pharmaceuticals exports: Rs606 crore
  • Gold jewellery exports: Rs199 crore
  • Wheat imports: Rs5,038 crore (import of 55 lakh MT of wheat at competitive prices
  • Bullion imports: Rs2,985 crore
  • Import sales of hydro-carbons / minerals / metals: Rs1,200 crore
  • Edible oil import turnover on commercial account: Rs517 crore
  • Import sales of pulses: Rs285 crore

Iniastiatives:
Expanded overseas steel operations expanded Bulgaria
Executing the highest ever contract valued at Rs2200 crore for supply of 5 million mt of non-coking steam coal to National Thermal power Corporation.

The Corporation expects to take its turnover and profitability to new peaks during 2007-08.

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STC turnover zooms 101 per cent in 2006-07