VSNL in mute mode on Q4 slump

DALAL STREET SPIKES

VSNL's fourth quarter numbers failed to impress the markets as the stock crashed over 2 per cent in Wednesday's trading.

The stock hit an intra-day low of Rs 132 after the company announced a sharp over 50 per cent fall in its net profit for the quarter ended March 31. The stock finally closed at Rs 137.65, down 2.34 per cent from its previous close.

The company for the quarter ended March 31, posted a net profit of Rs 82.20 crore as against Rs 191.10 crore in the same period last year on a total income of Rs 813.20 crore.

The total income last year stood at Rs 1,038.30 crore. For the year ended March 31, the company's net profit stood at Rs 377.70 crore as against Rs 780.10 crore on a total income of Rs 3,371.10 crore.

The company's board has recommended a dividend of Rs 4.50 per share for financial year 2003-04.