| Date: |
19-10-2010 |
| Subject: |
MMTC likely to Import over 200 tonne Gold in FY''11: Mann |
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New Delhi, Oct (PTI) State-trading firm MMTC is expected to import over 200 tonnes of gold during the current financial year, its Chairman H S Mann said today.
So far, MMTC has imported 110 tonnes of the precious metal in the current financial year, he said.
"There is an increase in consumption despite higher prices," Mann told reporters here.
In September alone, the firm imported 25 tonnes, he said adding the higher prices are not denting demand.
In 2009-10, the trading firm had imported 185 tonnes of gold.
Mann recently assumed the additional charge of Chairman and Managing Director of MMTC.
India is the world''s largest market for gold. Gold prices had hit an all-time high of Rs 20,120 per ten gram on October 15 in Delhi. Gold closed at Rs 19,950 per ten gram in the bullion market here.
Meanwhile, the trading firm today presented a dividend cheque of Rs 44.70 crore towards 90 per cent dividend for 2009-10 to Commerce and Industry Minister Anand Sharma here.
MMTC achieved the highest ever profit after tax (PAT) of Rs 216 crore with turnover of Rs 45,124 crore during the last fiscal.
Source : news.in.msn.com
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