|MECON Hands Over Dividend of Rs.10.98 crore to Steel Minister|
|MECON Limited, a PSU under the Ministry of Steel handed over a dividend cheque of `10.98 crores to the Union Minister of Steel, Shri Beni Prasad Verma here today.|
The Minister appreciated the company for achieving highest ever profit and advised MECON to further increase the quantum of jobs undertaken and strengthen its name as a project consultant through better delivery of projects.
The premier design, engineering consultancy & EPC company recorded highest ever turnover of `643.83 crores during the year. The paid-up share capital of the company on March 31, 2012 was `90.54 crores consisting of `40.14 crores of Equity Share Capital and `50.40 crores of Preference Share Capital.
Profit before Tax of MECON increased by 43% to `201.54 crores during 2011-12 against `140.93 crores achieved during the previous year. The company achieved `136.36 crores of Profit after Tax during 2011-12, registering a growth of 45.56% over the last year’s PAT of `93.68 crores.
The Company declared 20% dividend on Equity Share Capital amounting to `8.03 crores, after a gap of 13 years. In addition, the Company is also paying 5% dividend on Preference Share Capital amounting to `2.95 crores.
Shri K.K. Mehrotra, Chairman cum Managing Director, MECON presented the dividend cheque to the Minister. The Secretary, Ministry of Steel, Shri D.R.S. Chaudhary was also present on the occasion.