RailTel has posted its financial results for the third quarter (Q3) FY2021.
The company registered a total income of Rs 4.18 billion in Q3 FY21. This is a 43 per cent increase over preceding quarter and 50 per cent Y-o-Y. RailTel’s consolidated revenue from operations for the quarter stood at Rs 4.11 billion registering a growth of 45 per cent on Q-o-Q basis and 52 per cent on Y-o-Y basis.
Further, RailTel posted a profit after tax (PAT) of Rs 700 million which was higher by 141 per cent respectively over the preceding quarter. The company has declared an interim dividend of Rs 1/- per share (10 per cent of the paid-up share capital)
Talking about the future prospects of the company, Puneet Chawla, Chairman and Managing Director of RailTel said, “Covid 19 pandemic has compelled business to go digital. Our Retail broadband Service- RailWire, video conferencing service, IBW, VPN services has seen excellent traction and the trend is likely to continue. We have recently got a Rs 1,530 million order from Central Coalfields limited for MPLS VPN. We have seen demand growth for our Data Centre business as well and with RailTel becoming a MeitY empanelled cloud service provider, we are expecting more business in this area as well. We already have a recurring income of around Rs 5,000 million plus and healthy order book of projects to be delivered over next 3-4 years.”