Mini Ratna TCIL pays dividend to Centre

New Delhi, Dec 26 (SocialNews.XYZ) Mini Ratna public sector company Telecommunications Consultants India Ltd (TCIL) has paid a dividend of Rs 14.20 crore to the central government for the financial year 2022-23, the ministry of communications said on Tuesday.

TCIL Chairman & Managing Director Sanjeev Kumar, presented a dividend cheque to Telecom Secretary Neeraj Mittal.

Since its inception, TCIL has been a consistently profit- making company. It has so far paid dividends adding up to Rs 294.19 crore to the government till 2022-23. The dividend is on the government’s initial investment in equity of Rs 0.3 Crore. Rs 16 crore was further infused during 2015-16. The group and standalone net worth of the company are Rs 1,712.00 crore and Rs 618.56 crore respectively as on March 31, 2023.

In FY 2022-23, TCIL achieved a revenue growth of 25 per cent over previous year with total standalone revenue and profit after tax of Rs 2,001.7 crore and Rs 35.50 crore respectively.

The Government of India holds 100 per cent of TCIL’s share capital. It is a prime engineering and consultancy company which undertakes projects in the fields of Telecommunications, IT and Civil construction in India and abroad. TCIL has executed projects in over 70 countries across the globe.

Overseas operations of the company are in Kuwait, Saudi Arabia, Oman, Mauritius, Nepal, etc., in addition to pan Africa e-Vidya Bharti & Arogya Bharti Network project operating in more than 15 African countries, and more African countries are likely to join.

The company is also executing high value Government of India prestigious projects of Rural ICT for Department of Posts, NFS for Defence, Navy Network, Bharatnet Project for APSFL, Telangana Fiber, BBNL VSAT, Indian Coast Guard, Ministry of Home Affairs , CCTV Surveillance Projects for State Police, Smart Cities, Railways, e-education and e-Health Projects, etc.

Source: IANS