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RailTel posts its highest ever consolidated income

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”. EquityBulls

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