RailTel Corp gains after board OKs interim dividend

RailTel Corporation of India advanced 0.88% to Rs 120.65 after the company's board approved an interim dividend of Rs 1.75 per share for the FY 2021-22.

At the current market price, this translates to a dividend yield of 1.5%.

The board has fixed 21 January 2022 as the record date for the purpose of payment of interim dividend of FY 2021-22.

RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The Optical Fibre Cable (OFC) network covers important towns & cities of the country and several rural areas. The Government of India held 72.84% stake in the company.

 

The company's consolidated net profit rose 130.85% to Rs 67.50 crore on 26.69% rise in net sales to Rs 358.49 crore in Q2 FY22 over Q2 FY21.

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