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The Visakhapatnam Steel Plant is set to achieve 7.3 million tonnes capacity within the next 18-20 months, as the expansion project is proceeding without any hitches, according to the CMD, A.P. Choudhary.
He was speaking at the annual general meeting of RINL on Saturday. Choudhary said the expansion project was likely to yield results by the end of the current financial year. The company had registered profit after tax (PAT) of Rs 353 crore for 2012-13 on a sales turnover of Rs 13,553 crore.
He said power restrictions imposed by the State Government and the rising input costs had affected the bottom line. Further, the depreciation in rupee value had also a negative impact. A total dividend of Rs 126.49 crore at 10 per cent of PAT for 2012-13 for equity shareholders and coupon note of seven per cent on preference shareholding as on Saturday, which includes the interim dividend of Rs 82.88 crore, was declared.
The total dividend cash outflow including dividend tax for the year 2012-13 amounts to Rs 156.37 crore.
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