 "RailTel net profit rises 60% to Rs 70 crore in December quarter")
RailTel Corporation of India on Monday reported a 60.4 per cent rise in its consolidated net profit at Rs 69.6 crore for the quarter ending December 31, 2020. It was Rs 43.23 crore in the same period last year.
The revenue from operations rose by 51.85 per cent to Rs 410.6 crore as against Rs 270 crore in the same period last year.
The Board has declared an interim dividend at the rate of 10 per cent of paid-up share capital, which comes to about Rs 1 per share.
The total expenses of the company increased to Rs 323 crore for the quarter under review.
"The operations of the company have also been significantly impacted following a coronavirus induced lockdown," RailTel said in an exchange filing.
"The operations of the company have also been significantly impacted following a coronavirus induced lockdown," RailTel said in an exchange filing.
On Monday, RailTel's scrip rallied 7.20 per cent on NSE to close at Rs 140 after the PSU company received a work order amounting to Rs 153.15 crore from Central Coalfields.
The order entails establishment of MPLS-VPN Network of higher Bandwidth on rental basis for 5 years. The announcement was made during market hours on Monday.
RailTel, a public sector undertaking under the Ministry of Railways (MoR), is an information and communications technology (ICT) infrastructure provider to the government.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%