The Hindu : Business : ITI faces challenges

Online edition of India's National Newspaper
Thursday, Sep 30, 2004

Business

Business

ITI faces challenges

By Our Staff Reporter

BANGALORE, SEPT. 29. Even as ITI's Chairman and Managing Director, Y. K. Pandey, was presenting a `turnaround strategy' on the back of orders to make equipment for mobile phone networks here on Wednesday, the public sector telecom equipment firm faced losses of over Rs. 700 crores for last year alone.

At the annual meeting here, Mr. Pandey said the troubled firm had become the country's top telecom turnkey service provider for the second year in succession establishing itself as a `total solutions provider.' The firm had orders worth Rs. 1,600 crores, including those to supply four million GSM lines to the public sector telecom utility, BSNL, for west zone, manufacture of eight million subscriber identity module (SIM) cards and one million CDMA-WLL lines.

Yet, "With orders lacking and prices dropping, the company's performance in equipment sales fell far short of its targets, severely denting its bottom line," Mr. Pandey told the shareholders.

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