State Trading Corp. records `31 crore profit during 2014-15
State Trading Corporation of India has recorded a Profit Before Tax of Rs31 crore during the year 2014-15, officials have said, announcing the annual results of the central government’s premier global trading company engaged in exports, and imports operations.
“The company achieved an export turnover of Rs1,884 crores, which is the highest achieved during the last six years. The total turnover of the company during the year 2014-15 was of the order of Rs14,400 crore,” he said.
Announcing that the company has recorded a Profit Before Tax of Rs31 crore, officials said that they could achieve this performance as a result of many new initiatives undertaken during the financial year. The company in the meantime has also recorded a huge volume of global trade and commerce.
Talking about the new initiative, an official said that “Some of these included exports of steel plates, coils, and agro pesticides to Iran, import of raw cashew nuts for Kerala government, undertaking supply of fertilizers to tobacco growers, supply of rice to Government of Puducherry, retail <g data-gr-id="23">sail</g> of tea, coffee and packaged drinking water under STC brand and cardamom auctions among others”.
Besides these new ventures, the company also undertook a higher import of items like urea on behalf of the central government, edible oils and <g data-gr-id="14">equipments</g>/instruments.
“During the year, the Corporation also undertook a number of steps to improve its systems and procedures so as to further add to the transparency of its operations,” an official said. The Corporation is confident to further improve its performance, both of <g data-gr-id="17">turn-over</g> and profitability fronts in the coming years.