VSNL net up 6% to Rs 150 cr

BS 200 SCORECARD

Videsh Sanchar Nigam (VSNL) reported 5.6 per cent increase in net profits at Rs 150 crore for the third quarter ended December 31, 2005, as compared with Rs 142 crore in the corresponding quarter last year.

Net sales of the Tata group company was up 18.13 per cent at Rs 977 crore from Rs 827 crore over the corresponding period last year. The company's total income increased to Rs 1,075 crore during the quarter from Rs 849 crore in the year-ago period, a rise of 26.6 per cent.

Operating profit went up by 67.4 per cent at Rs 303 crore from Rs 181 crore last year. VSNL's earnings per share was up 6.12 per cent to Rs 5.2 from Rs 4.9.

N Srinath, executive director, VSNL, said that the company is well positioned to become a major provider of bandwidth and managed services to carriers and enterprises globally even as it continues to consolidate its position in the domestic market. VSNL's traditional wholesale business has witnessed substantial growth this quarter.