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ITI loss widens to Rs 99.7 crore in Apr-June

State-run telecom gear maker ITI Limited on Wednesday reported widening of consolidated loss to Rs 99.7 crore in the first quarter ended on June 30, 2022.

The company had posted a loss of Rs 87.95 crore in the same period a year ago.

The consolidated revenue from operations of ITI Limited fell by 27.5 per cent to Rs 166.28 crore during the reported quarter from Rs 229.42 crore in June 2021 quarter.

ITI Limited has been declared sick company and a financial assistance of Rs 4,156.79 crore was provided to it in February 2014 for its revival.

The company had turned profitable in 2017-18 after being sick for 16 years.

ITI Limited posted a consolidated profit of Rs 119.7 crore in 2021-22. PTI

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