BSNL pays Rs 1,175 crore as dividend

NEW DELHI: The Telephone Consultants of India (TCIL) today paid Rs 21.60 Crore dividend for the year 2004-2005 to the Government, maintaining the same level as in the last financial year.

TCIL chairman and managing director G.D.Gaiha presented the dividend cheque to Minister of Communications and IT Dayanidhi Maran at a ceremonial function here. Gaiha announced that the company has been maintaining its level since the last four years regarding the payment of dividend.

“Since the inception we have paid total dividend of Rs.164 Crore apart from bonus issues of shares amounting to Rs.28.5 Crore issued to the government out of the profits. We are happy to announce this at the 27 years of successful operations in India and abroad,” Gaiha said.

During the year 2004-05, turnover of the company was Rs 449 crore. The project Exports amounted to Rs 327 crore. He said that TCIL, a mini-Ratna Schedule-A public sector undertaking has been rated as “2-Star Export House” by Ministry of Commerce.

Gaiha said that the company would maintain and enhance its hi-tech capabilities and achieve targeted turnover of Rs684 crore, project exports of Rs 342 crore and profit of Rs 5.68 crore after tax for the year 2005-06.

Bharat Sanchar Nigam Limited (BSNL) also paid dividend of Rs 1,175 crore for the year 2004-05. Chairman and managing director A.K. Sinha presented the cheque to Maran.

The dividend consists of Rs 500 crore as dividend on equity share capital (Rs 200 crore as interim dividend and Rs 300 crore as final dividend) and Rs 675 crore as preference share capital.

Sinha said that BSNL is one of the largest contributors to the government of India by way of dividend payments this fiscal. Even in terms of payment of licence fee, spectrum charges and service tax, the PSU has been in the forefront.