Financial Daily from THE HINDU group of publications
Wednesday, Nov 09, 2005
Financial Daily from THE HINDU group of publications Wednesday, Nov 09, 2005 |
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Info-Tech
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Telecommunications Markets - IPOs TCIL revamps accounting to ready for IPO Our Bureau
Mr A. K. Sinha, CMD, BSNL (second from right), and Mr G. D. Gaiha, CMD, TCIL, presenting dividend cheques of their companies to the Minister for IT and Communications, Mr Dayanidhi Maran in the Capital on Tuesday. - - Kamal Narang
New Delhi , Nov 8 STATE-OWNED Telecommunications Consultants India Ltd (TCIL) today paid a Rs 21.6-crore dividend to the Government for 2004-05, and said it sought to revamp financial accounts of the last five years as a pre-requisite for public offering. The TCIL Chairman and Managing Director, Mr G.D. Gaiha, said, "We have initiated an exercise to revamp our financial accounts as a pre-requisite, but decision to tap the capital market has to be taken after the exercise is complete." Presenting the dividend cheque to the Minister of Communications and IT, Mr Dayanidhi Maran, he said TCIL's turnover stood at Rs 449 crore, including project exports at Rs 327 crore. Its net worth stands at Rs 396 crore. The company recently completed a CDMA-based WLL network in 11 provincial capitals of Afghanistan worth Rs 48 crore, using C-DoT technologies and equipment bought from ITI, another telecom PSU. TCIL has also taken up a major project to link super-speciality hospitals in Africa and India, as well as universities, Mr Gaiha said.
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