RailTel declares its highest ever consolidated income of Rs 11,660.05 million
By MYBRANDBOOK
RailTel has announced its highest ever consolidated income of Rs 11,660.05 million in its 20th Annual General Meeting held on October 28 through video conferencing, the PSU said in a statement on Wednesday. This is a growth of 12.3 per cent over the consolidated income of Rs 1,0382.66 million in Financial Year 2018-19.
With this, RailTel has posted a profit before tax amounting to Rs 1,847.60 million and net profit of Rs 1,410.66 million during the 2019-2020 fiscal on consolidated basis.
In the financial year 2020-2021 total dividend pay-out for the company would be Rs 680.60 million (interim and final) (including interim dividend of Rs. 200 million) as approved by the shareholders in the AGM.
RailTel was incorporated in the year 2000 to modernise the existing telecom system for train control, operation and safety and to generate additional revenues by creating nationwide broadband and multimedia network, laying optical fiber cable using the right of way along railway tracks.
Puneet Chawla, Chairman and Managing Director, RailTel, said, “The COVID-19 pandemic has not only compelled businesses across industries to turn to technology-enabled platforms for safe operations and business continuity, but also accelerated the adoption of digital imperatives. With its pan-India high capacity network RailTel offers services like, MPLS-VPN, Telepresence, Leased line, Tower Co-location, data center services etc . We have seen an increase in demand for our HD video conferencing service, e-office, Bandwidth usage etc during and post-lockdown. The pandemic crisis has thrown up new challenges and has preponed the investment cycle in information and communication technology space and we intend to harness the same for our future growth. We have created a RailCloud at our two-tier III certified Data Centres at Gurgaon and Secunderabad and also created a SOC (Security Operations Centre) to strengthen our network security which will ensure better service to our clients."
RailTel's retail broadband service RailWire have seen a growth in subscribers due to people working from home and schools and colleges starting online classes.
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