MOHAMMAD ZIYAUDDIN
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MSTC Q2 Results: Government company MSTC Ltd has given good news to its investors. The company has announced a 40% interim dividend while releasing its second-quarter financial results on Saturday, November 9. However, the company's profit and income have declined in this quarter of FY25. 'Miniratna PSU' MSTC has decided to distribute this dividend to its investors, which will be distributed in the next 30 days. The record date for this has been fixed as 22 November 2024.
MSTC Q2 results: Profit and revenue decline
Government company MSTC has reported a decline in its profit and income in the second quarter of the current financial year 2024-25. The company's profit has declined by 12% to Rs 41.45 crore as compared to last year, while it was Rs 47.13 crore in the same quarter last year. MSTC's total income has also declined, which fell by 11.3% to Rs 71.91 crore in this quarter, while it was Rs 81.13 crore in the same period last year.
MSTC announces 40% interim dividend along with Q2 results
MSTC has announced a 40% dividend for investors along with the September quarter results. This means that the company will pay a dividend of Rs 4 on a face value of Rs 10. The record date for receiving this dividend has been fixed as November 22, 2024. The company will deposit this amount in the investors' accounts within 30 days.
MSTC Limited, which comes under the Ministry of Steel, Government of India, is a Mini Ratna company. It was incorporated on 9 September 1964 to oversee the export of steel scrap. The Government of India holds a 64.75% stake in this company. Until 1992, this company also dealt with importing steel scrap into India and dismantling old ships.
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