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TCIL pays dividend of Rs 14.20 cr to govt for FY23
Photo courtesy: wikipedia.org

TCIL pays dividend of Rs 14.20 cr to govt for FY23

| @indiablooms | 27 Dec 2023, 01:22 am

New Delhi: Telecommunications Consultants India Ltd (TCIL) paid a dividend of Rs 14.20 crore to the government for the Financial Year 2022-23.

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

“Since its inception, the TCIL has been a consistently profit-making company. It has so far paid a dividend of Rs 294.19 crore to the Government till FY 2022-23,” the Ministry of Communications said in a statement.

The dividend is on the government’s initial investment in the equity of Rs 0.3 crore. An amount of 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 of 31st March 2023.

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

Established in August 1978, TCIL is a Mini Ratna Category – I Status Company under the Department of Telecommunications of the Ministry of Communications. The government of India holds 100 percent of its share capital.

It is a prime engineering and consultancy company that undertakes projects in all fields of Telecommunications, IT and Civil construction in India and abroad.

The TCIL has executed projects in over 70 countries across the globe.

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

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

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