Bharti Airtel has paid an interim dividend of Rs 117.5 million to Telecom Consultants of India Limited (TCIL), its joint venture partner in Bharti Hexacom, for financial year 2011-2012, at the rate of 15 per cent.
TCIL has been demanding this dividend payment for a long time, but this demand was not met with Bharti Airtel stating that all profits are being ploughed back in the company to expand operations.
The government was earlier considering the sale of its stake in Bharti Hexacom, held through TCIL. However, the sale has been on put on hold for now.
Bharti Hexacom is a joint venture between Bharti Airtel and TCIL, where in Bharti owns a 70 per cent stake, while the remaining 30 per cent is held by TCIL.
