Indian Railways’ PSU RailTel announces highest consolidated income! Check details

By: |
November 5, 2020 12:10 PM

As approved by the shareholders, the total dividend pay-out for the firm would be an amount of Rs 680.60 million (interim and final) (including the Rs 200 million interim dividend) in the financial year 2020-2021.

RailTel has recently announced its highest ever consolidated income of Rs 11,660.05 million.

RailTel, a PSU under the Railway Ministry which is providing fast and free WiFi across the Indian Railways network, has recently announced its highest ever consolidated income of Rs 11,660.05 million. This income figure is a growth of 12.3% over the consolidated income of the financial year 2018-19, which was Rs 1,0382.66 million. With this, a profit has been posted by the PSU before tax amounting to Rs 1,847.60 million and Rs 1,410.66 million net profit during the financial year 2019-2020 on a consolidated basis, according to a PTI report. As approved by the shareholders, the total dividend pay-out for the firm would be an amount of Rs 680.60 million (interim and final) (including the Rs 200 million interim dividend) in the financial year 2020-2021.

In the year 2000, RailTel was incorporated to modernize the existing Indian Railways’ telecom system for train control, operation and safety as well as to generate additional revenues by creating multimedia and broadband network across the country, laying optical fiber cable along tracks. According to Puneet Chawla, RailTel Chairman and Managing Director, RailTel, with its pan-India high capacity network, offers services such as MPLS-VPN, Tower Co-location, Leased line, Telepresence, data center services, etc. Also, during and post-lockdown, the PSU has seen a rise in demand for its High Definition (HD) video conferencing service, e-office, usage, bandwidth, etc.

Chawla further said, the COVID-19 pandemic crisis has thrown up new challenges and has preponed the investment cycle in communication and information technology space and the PSU intends to harness the same for its future growth. Due to people working from home and schools, colleges starting online classes because of the pandemic, the PSU’s retail broadband service- RailWire has seen a growth in subscribers, he said. Also, to strengthen its network security with an aim to ensure better service to its clients, RailTel has created a RailCloud at its two-tier III certified Data Centres at Secunderabad and Gurgaon as well as a Security Operations Centre, Chawla added.

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