The Hindu : Business : VSNL pays 45 p.c.

Online edition of India's National Newspaper
Wednesday, Jun 23, 2004

Business

Business

VSNL pays 45 p.c.

CHENNAI, JUNE 22. Videsh Sanchar Nigam has announced a dividend of Rs. 4.50 per share (45 per cent) for the financial year 2003-04. The company has posted a net profit of Rs. 82.20 crores for the quarter ended March 31, 2004 as compared to Rs. 191.10 crores for the quarter ended March 31, 2003. Total income has declined to Rs. 813.20 crores from Rs. 1,038.30 crores during the period under reference. The company has posted a net profit of Rs. 377.70 crores for the year ended March 31, 2004 as compared to Rs. 780.10 crores for the year ended March 31, 2003. Total income has dropped to Rs. 3,371.10 crores from Rs. 4,812.50 crores in the previous year, according to a notification from the Bombay Stock Exchange.

NDTV makes profit in Q4

New Delhi Television (NDTV) has achieved a cash break even in the fourth quarter in its first year of operation as a broadcaster. The turnaround in the fourth quarter took place after reported losses in the first three quarters, says a release. The earnings before interest, depreciation and taxation in the fourth quarter amounted to a positive Rs. 1.75 crores. The turnaround came from a sharp increase in income from advertisers.

The company's income for the fourth quarter amounted to Rs. 23.98 crores compared to an income of Rs. 34.14 crores for earlier nine months. For the full year, on a consolidated basis, NDTV has reported an income of Rs. 68.98 crores and a net loss of Rs. 49.62 crores.

The company recently came out with an IPO of 15.57 million equity shares of Rs. 4 each at an issue price of Rs. 70 per share.

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