RailTel announced its highest ever consolidated income of Rs. 11,660.05 million in its 20th Annual General Meeting
RailTel posts its Highest Ever Consolidated Income of Rs. 11,660.05 mn in FY 19-20
Company’s Consolidated income grows 12.3% Y-O-Y
Chennai, 4 Nov: RailTel announced its highest ever consolidated income of Rs. 11,660.05 million in its 20th Annual General Meeting (“AGM”) held on 28th October, 2020 through video conferencing. This is a growth of 12.3% over consolidated income of Rs. 10382.66 million in FY 18-19. On this occasion, Shri Puneet Chawla, Chairman and Managing Director of RailTel, addressed the stakeholders and apprised them of the latest developments and future plans of the company. Shri Pradeep Kumar, Member, Infrastructure, Railway Board and Shri Rajesh Tiwari, Member, Traction and Rolling Stocks, Railway Board attended the meeting as stakeholders.
With this, RailTel has posted a profit before tax amounting to Rs. 1,847.60 million and net Profit of Rs. 1,410.66 million during the Financial Year 2019 – 2020 on consolidated basis. In the Financial Year 2020-2021, total dividend pay-out for the Company would be Rs. 680.60 million (interim and final) (including interim dividend of Rs. 200 million) as approved by the shareholders in the AGM.
Talking about the current business scenario, Shri Puneet Chawla, Chairman and Managing Director of RailTel said, “The COVID-19 pandemic has not only compelled businesses across industries to turn to technology-enabled platforms for safe operations and business continuity, but also accelerated the adoption of digital imperatives. With its pan India high capacity network RailTel offers services like, MPLS-VPN, Telepresence, Leased line, Tower Co-location, Data center services etc . We have seen an increase in demand for our HD video conferencing service, e-office, Bandwidth usage etc during and post lockdown. Our retail broadband service- ‘RailWire’ have seen a growth in subscribers due to people working from Home and Schools & colleges starting online classes. We have created a RailCloud at our two-tier III certified Data Centres at Gurgaon and Secunderabad and also created a SOC (Security Operations Center) to strengthen our network security which will ensure better service to our clients. The pandemic crisis has thrown up new challenges and has preponed the investment cycle in Information and Communication Technology space and we intend to harness the same for our future growth’
About RailTel
RailTel a “Mini Ratna (Category-I)” Central Public Sector Enterprise, is one of the largest neutral telecom infrastructure providers in the country (Source :CRISIL Report “Assessment of the telecom and telecom data services industry in India” dated September 2020) owning a Pan-India optic fiber network covering several towns & cities and rural areas of the country. Along with a strong a reliable network of 57457 RKM of Optic fibre (as of 30th September 2020), RailTel has two tier III data centers as well. “With our Pan India high capacity network, RailTel is working towards creating a knowledge society at various fronts and has been selected for implementation of various mission-mode projects for the Government of India in the telecom field. RailTel offers a bundle of services like, MPLS-VPN, Telepresence, Leased line, Tower Co-location, Data center services etc. RailTel is also working with the Indian Railways to transform railway stations into digital hub by providing public Wi-Fi at railway stations across the country. As of September 30, 2020, more than 5770 stations are live with RailTel’s RailWire Wi-Fi.
Disclaimer: RailTel Corporation of India Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations to make an initial public offering of its Equity Shares and has filed the draft red herring prospectus (“DRHP”) with SEBI. The DRHP will be available on the websites of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e., BSE at www.bseindia.com, NSE at www.nseindia.com and websites of the BRLMs at www.icicisecurities.com; www.idbicapital.com and www.sbicaps.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see the section “Risk Factors” beginning on page 25 of the DRHP.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold outside the United States in offshore transactions in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.
