STC profit up 9% in FY'13, turnover dips

Company reported a profit after tax of Rs 16.5 crore in the previous fiscal

The State Trading Corporation of India Ltd today said its profit after tax grew by about 9% to Rs 18 crore during 2012-13 fiscal, although its turnover fell sharply.

The company had reported a profit after tax of Rs 16.5 crore in the previous fiscal, an official statement said.

It registered a turnover of Rs 18,698 crore in 2012-13 as compared to Rs 30,444 crore in the preceding fiscal.

"STC effected exports of Rs 1,563 crore and that the same were higher than any of the preceding three years," STC Chairman and Managing Director Khaleel Rahim said.

The company's import turnover stood at Rs 17,015 crore during the previous fiscal.

"In the near future, besides the traditional business of agricultural products, STC is going in a big way for diversification in the field of import of coal, non-urea fertilisers, copper, medical and engineering equipment, among others," he said.