VSNL net soars to 93 per cent

Mumbai: VSNL has registered a 92.7 per cent jump in net profit at Rs126.8 crore for the first quarter ended June 30 as against Rs65.8 crore recorded during the corresponding previous period.

Consequent to a settlement reached during the quarter, an amount of Rs46.9 crore was received on July 15 which has been included in the net sales in accordance with Accounting Standard 9 "Revenue Recognition" and Accounting Standard 4 "Contingencies and Events Occuring After the Balance Sheet Date".