Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

ITI Limited Announces Financial Results for the Quarter Ended December 31, 2017

Posted On: 2018-02-17 02:11:04

ITI Limited, country's first PSU post-independence and premier telecom manufacturing company announced the financial results for the quarter ended 31st December 2017 with a profit of Rs 86 crores without any government grants.

Company's total income for the period ended December 31, 2017 was Rs 922 crores up and net profit for the period was increased by 109 % to Rs. 19 crores for the period ended December 31, 2017 without any aid from government as against the loss of Rs 203 crores for the previous year. As on 31.12.2017, ITI's order book position is Rs. 2137 Cr.

Highlighting the company's achievement for the year 2016-17, Shri S Gopu, Chairman & Managing Director, ITI Limited said, "After a gap of 16 years, ITI Limited has achieved this profit for the third quarter which is a remarkable feat towards ITI's revival. Out of our five units, four units have registered a significant profit. ITI is now heading towards a great financial year 2017-18 as the company has won Rs 8000 Cr deal of Army Static Switched Communication Network (ASCON) from the Ministry of Defence, Rs 800 Cr order for the supply of Smart Energy Meters from Energy Efficiency Services Limited (EESL)."

ITI Limited has achieved a significant milestone by being a part of phase I of Government of India's flagship project "BharatNet" connecting over One Lakh Gram Panchayats across the country with high speed optical fibre network. The project envisages hi-speed broadband connectivity at an affordable price in over 2.5 lakh villages. The Company has received Certificate of Appreciation from Hon'ble Union Minister of Communications for its significant contribution, as an Equipment Supplier for the BharatNet Phase 1. The tenders for phase II project are announced and ITI is making all out efforts to participate in all the tenders.

As part of Ministry of Urban Development's 'Swatch Bharath' mission to manufacture feedback devices to civic bodies of different states, ITI has already installed 1000 devices in municipal corporations of Delhi, Karnataka, Tamil Nadu, Gujarat & Telangana states.

ITI is also setting up a Data Centre with a rack space of 24,000 Sq ft. The company has plans to make 150 racks space ready by March 2018. With the support of Government of India, ITI has upgraded the electronics manufacturing infrastructure to supplement indigenous manufacturing.

Shares of ITI LTD. was last trading in BSE at Rs.117.65 as compared to the previous close of Rs. 119.6. The total number of shares traded during the day was 115351 in over 1134 trades.

The stock hit an intraday high of Rs. 123 and intraday low of 116.6. The net turnover during the day was Rs. 13700597.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

IFCI Ltd reports loss of Rs. 16.55 crores in Q2 FY19

Muthoot Finance Ltd Q2 FY19 PAT climbs to Rs. 483.83 crores

IndiGo brings its school adoption programme to Vadodara; adopts 15 government schools

WhizAI raises $1.1 Million in Seed Funding Led by Trigyn Technologies, Inc.

ETT Ltd appoints director

Power Grid declared as successful bidder under TBCB

Sagar Cements Ltd approves new projects

Avenue Supermarts Ltd issues Commercial Paper of Rs. 100 crore

UROS Group joins forces with Tata Communications to accelerate IoT and Smart City projects

ICICI Bank Ltd announces change of Government Nominee Director

Nestle India Limited Board approves Dividend of Rs. 50

Ravalgaon Sugar Farm Ltd approves sale of land, machinery

Spice Mobility Ltd announces resignation of CFO

Indian Hume Pipe Company Ltd receives LoA for work of Rs. 204.51 crores

Lemon Tree Hotels Ltd opens new hotel at Connaught Road, Pune

Mr Milan Paleja to step down from Novartis India Ltd

Brickwork Ratings upgrades rating of Xpro India Ltd

Indo Gulf Industries Ltd announces change in CS

Tasty Dairy Specialties Ltd inks MoU with Foundation Dutch Greenhouse Delta

PVP Ventures Ltd appoints additional director

AARV Infratel Ltd enters into term sheet with Quess Corp

Maruti Suzuki India mulls price increase from January 2019

Capital India Finance Ltd board to consider rights issue

US FDA completes inspection of Lupin's Mandideep location

SEAMEC III commences 1 year charter with ONGC

Sri Amarnath Finance Ltd announces resignation of CS

Promoter announces offer for sale of shares of RattanIndia Infrastructure Ltd

L&T Construction wins orders valued Rs.2106 Crore

Alembic Pharmaceuticals receives USFDA Approval for Candesartan Cilexetil Tablets USP, 4 mg, 8 mg, and 16 mg.

Divya Jyoti Industries Limited announces resignation of CS

NTPC Wins 85 MW Solar Capacities in UPNEDA's 550 MW Solar Tender

SISL Board approves the scheme of amalgamation of Total Securities with the Company

Rural Electrification Corporation Ltd reports Q2 FY19 PAT of Rs. 1764.33 crores

IL&FS Investment Managers Ltd board to consider Q2 results on Dec 14, 2018

Opto Circuits India Ltd board to announce Q3 results on Feb 12, 2019

Oriental Aromatics Ltd fixes Dec 14, 2018 as record date for bonus issue, stock split

Bosch Ltd appoints Dr. Gopichand Katragadda as an Additional Director

ITC Savlon introduces Braille enabled Packs of antiseptic liquid

MY FM launches 5th edition of 'MY FM Rangrezz'

Gaurs Group gives exit to Indiabulls, pays Rs 340 crores debt

Allen Solly recreates innovative 'Open Work Culture' for Moviegoers

Jain Farm Fresh launches Valley Spice range

Capri Global Capital Limited appoints Mr. Ajay Kumar Relan as independent director

Veto Switchgears and Cables Ltd calls for board meeting on Dec 15, 2018

Alna Trading & Exports Ltd appoints CS

Mr. Rikenkumar Dalwadi appointed as compliance officer of EIMCO Elecon India Ltd

Kesoram Industries Ltd approves demerger of tyre business to Birla Tyres Ltd

The New India Assurance Company Ltd announces change in Chairman and MD

Trigyn Technologies Inc. declares dividend to Trigyn Technologies Limited

Kridhan Infra Ltd's associate company Vijay Nirman Company wins order worth INR 105 crores







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018