RailTel announced its highest ever consolidated income of Rs 11.66 billion in its 20th annual general meeting (AGM) held on October 28, 2020 through video conferencing. This is a growth of 12.3 per cent over consolidated income of Rs 10.38 billion in FY 2018-19.
With this, RailTel has posted a profit before tax amounting to Rs 1.84 billion and net profit of Rs 1.41 billion during the FY 2019-20 on consolidated basis. In the FY 2020-21, total dividend pay-out for the company would be Rs 680.6 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, 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 centre 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 security operations centre (SOC) 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.”