TCIL demonstrates financial prowess, pays Rs 14.20 crore dividend to government for FY 2022-23
Dec 26, 2023
New Delhi [India], December 26 : Telecommunications Consultants India Ltd (TCIL) has disbursed a substantial dividend of Rs 14.20 crore to the government for the financial year 2022-23.
According to a press release, Sanjeev Kumar, Chairman and Managing Director of TCIL, presented the dividend cheque to Neeraj Mittal, the Secretary of Telecom.
TCIL, a consistently profitable company since its inception, has a remarkable track record of paying dividends, amounting to Rs 294.19 crore to the government till FY 2022-23.
The dividend is based on the government's initial investment in equity of Rs 0.3 crore, with an additional infusion of Rs 16 crore in 2015-16.
As of March 31, 2023, the group and standalone net worth of the company stand at Rs 1,712.00 crore and Rs 618.56 crore, respectively.
During FY 2022-23, TCIL achieved an impressive revenue growth of 25 per cent, with total standalone revenue and profit after tax reaching Rs 2,001.7 crore and Rs 35.50 crore, respectively.
Established in August 1978, TCIL holds the esteemed Mini Ratna Category - I Status and operates under the Department of Telecommunications in the Ministry of Communications, with the Government of India holding 100 per cent of its share capital.
The company specialises in engineering and consultancy services, undertaking projects in telecommunications, IT, and civil construction both in India and abroad.
TCIL's global footprint spans over 70 countries, with significant overseas operations in Kuwait, Kingdom of Saudi Arabia, Oman, Mauritius, Nepal, and Pan Africa.
The company is actively involved in executing high-value projects for the Government of India, including rural ICT for the Department of Posts, NFS for Defence, Navy Network, Bharatnet Project for APSFL, Telangana Fiber, BBNL VSAT, Indian Coast Guard, MHA, CCTV Surveillance Projects for State Police, Smart Cities, Railways, e-education, and e-Health Projects.
TCIL's reach extends to more than 15 African countries through the Pan Africa e-Vidya Bharti & Arogya Bharti Network project, with more African countries anticipated to join.
