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ITI sales up 30 p.c.; approaching turnaround
BANGALORE:
ITI has posted a 30 per cent increase in its sales at Rs. 1,801 crore in 2005-06 over the previous year, taking the company closer to the turnaround it has embarked on. This performance represents a 50 per cent jump over the 2003-04 turnover when ITI faced the brunt of a crash in equipment prices. ITI reduced its losses by Rs. 182 crore at Rs. 451 crore. The company is expecting to close the current year with a turnover of Rs. 4,664 crore and had a firm order book of Rs. 2,000 crore at the beginning of the new fiscal. The company is expecting orders for ADSL worth Rs. 126 crore and 18.5 million lines of GSM valued at Rs. 5,000 crore, according to a company release.
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