Comments
The Centre would extend all possible help to the ailing public sector telecom equipment manufacturing company ITI in its endeavour to make a turn around, the Minister of State for Communications and IT, Mr Gurudas Kamat, said today.
Mr Kamat, who visited the city-headquartered ITI recently, appreciated the company's efforts in shaping a new road map of businesses through diversification and consolidation, an ITI release said today.
Stating that ITI “now has clean balance sheet”, the Minister assured all possible help from the Government to the company in its endeavour to turn around.
ITI should be able to do better in the coming months, he added.
The ITI management made a presentation on the company's activities and future plans.
The ITI Chairman and Managing Director, Mr K.L. Dhingra, thanked the Minister and the Department of Telecom (DoT) for supporting the company from time to time.
He also explained how its losses had come down in the last few months.
The Board for Reconstruction of Public Sector Enterprise (BRPSE) has recently advised BSNL to take over ITI as the merger will help the State-run company. ITI has units at Palakkad, Bangalore, Srinagar, Naini, Rae Bareli and Mankapur.
It had posted a higher net loss of Rs 104.34 crore for the quarter ended December 31, 2010 as against Rs 53.15 crore in the same period last fiscal.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.