Financial
ITI Limited Records a Turnover of Rs. 2051 Crore for the Year 2018-19
Bengaluru: ITI Limited, a Public Sector Undertaking under DoT announced the turnover of Rs. 2051 Crore (unaudited) for the financial year ended on 31th March, 2019 (corresponding figure for the financial year 2017-18 was Rs. 1703 Crore). The Company has posted 20% growth in revenue during 2018-19 as compared to 5.7% during 2017-18.
Highlighting the company’s achievement for the year 2018-19, Shri K Alagesan, Chairman & Managing Director, ITI Limited said, 'It is yet another year of accomplishment for ITI and this signifies ITI’s commitment for sustained growth. We believe that the positive and motivating measures have really yielded good results. For the new financial year, we believe that we have a sound order book and I hope to achieve much better results. Company’s performance for current financial year has invigorated us to further strengthen our business verticals like Smart Energy Meters, ICT-IOT, Mini PC manufacturing, Data Center hosting services, manufacturing of Rupay and Master cards with a focus on design and development of indigenous products and technologies. This is in addition to manufacturing of wide range of communication products, secured communication products for defence and manufacturing & component screening services for Indian space programs.'
With interalia, the Revival Package support from Government of India, execution of BharatNet phase 2 projects and rejuvenated manpower, the turnover of the company has improved.
Read Also : Indian Air Force ushers in Digital Transformation with DigiLocker Integration
News Must Read
- NCL General Manager (Finance) D Sunil Kumar recommended for SECL Director (Finance)
- Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore
- Axis Bank Overtakes Kotak Mahindra Bank to Become India's Fourth Most Valued Lender
- LIC cuts stakes in major PSU stocks
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station