VSNL net profit down to Rs 3,162 million
By Pradeep Rane | 28 Apr 2002
Mumbai: Videsh Sanchar Nigam Ltd (VSNL) has posted a lower net profit of Rs 3,162 million for quarter ended 31 March 2002 as compared to Rs 4,473 million for the corresponding period last fiscal.
The net sales have decreased from Rs 20,021 million in MQ01 to Rs 16,458 million in MQ02. The other income for the current quarter is at Rs 1,529 million whereas the same was Rs 1,408 million in the corresponding quarter last fiscal.
The company has posted a net profit of Rs 14,074 million for financial year ended 31 March 2002 as compared to Rs 17,788 million for the corresponding period last fiscal. The net sales have decreased from Rs 72,975 million in FY01 to Rs 65,081 million in FY02. The other income for the current financial year is at Rs 6,037 million, whereas the same was Rs 6,684 million in the corresponding period last fiscal.
The board has recommended a final dividend at the rate of Rs 87.50 per share (inclusive of the special interim dividend of Rs 75 per share paid out of the reserves of the company as per the approval obtained from the central government and Rs 12.50 per share out of the profits of the year).
Recently, the Tatas had picked up 26 per cent stake in VSNL from the government. It also made an open offer to acquire further 20 per cent equity stake held by the public shareholders in the company. The open offer was for buying up to 5.7-crore equity shares of VSNL, India's leading international telecom carrier and the second-largest Internet service provider.
The Tatas made the offer at Rs 202 a share through a specially created company called Pantone Invest. The maximum purchase consideration, in case of full acceptance of the offer, would be Rs 1,151.4 crore.
The net sales have decreased from Rs 20,021 million in MQ01 to Rs 16,458 million in MQ02. The other income for the current quarter is at Rs 1,529 million whereas the same was Rs 1,408 million in the corresponding quarter last fiscal.The company has posted a net profit of Rs 14,074 million for financial year ended 31 March 2002 as compared to Rs 17,788 million for the corresponding period last fiscal. The net sales have decreased from Rs 72,975 million in FY01 to Rs 65,081 million in FY02. The other income for the current financial year is at Rs 6,037 million, whereas the same was Rs 6,684 million in the corresponding period last fiscal.
The board has recommended a final dividend at the rate of Rs 87.50 per share (inclusive of the special interim dividend of Rs 75 per share paid out of the reserves of the company as per the approval obtained from the central government and Rs 12.50 per share out of the profits of the year).
Recently, the Tatas had picked up 26 per cent stake in VSNL from the government. It also made an open offer to acquire further 20 per cent equity stake held by the public shareholders in the company. The open offer was for buying up to 5.7-crore equity shares of VSNL, India's leading international telecom carrier and the second-largest Internet service provider.
The Tatas made the offer at Rs 202 a share through a specially created company called Pantone Invest. The maximum purchase consideration, in case of full acceptance of the offer, would be Rs 1,151.4 crore.