VSNL meets on Tata Tele investment, Q2 net profit down 33%
By Our Convergence Bureau | 21 Oct 2002
Mumbai:
The subcommittee of the board of directors of Videsh Sanchar
Nigam (VSNL), set up to look into the company’s proposed
investment in Tata Teleservices, met here on 20 October
2002. The meeting discussed the investment proposal and
also the report of ICICI-Securities’ assessment on
valuation-related issues.
VSNL has registered a 33-per cent decline in its net profit at Rs 2,459 million for the quarter ended 30 September 2002 as compared to Rs 3,685 million for the quarter ended 30 September 2001. The total income has decreased from Rs 17,442 million in SQ-01 to Rs 13,041 million in the quarter ended 30 September 2002.
