Videsh Sanchar Nigam has posted a 385 per cent increase in net profit at Rs 399.2 crore (Rs 3.99 billion) for the quarter ended March 31, 2005 as compared to Rs 82.2 crore (Rs 822 million) for the quarter ended March 31, 2004.
According to a release issued to the Bombay Stock Exchange on Thursday, the total income increased from Rs 813.2 crore (Rs 8.13 billion) in Q4-04 to Rs 934 crore (Rs 9.34 billion) for the quarter ended March 31, 2005.
VSNL has posted a 100 per cent rise in net profit at Rs 756.4 crore (Rs 7.56 billion) for the year ended March 31, 2005 as compared to Rs 377.7 crore (RS 3.77 billion for the year ended March 31, 2004.
The total income for the fiscal has increased from Rs 3371.1 crore (Rs 33.71 billion) in FY-04 to Rs 3410.4 crore (Rs 34.10 billion) for the year ended March 31, 2005.
As per the consolidated audited results for year ended March 31, 2005, VSNL has posted a net profit of Rs 708.6 crore (Rs 7.08 billion) for the year ended March 31, 2005. The total income stood at Rs 3412.2 crore (Rs 34.12 billion) for the year ended March 31, 2005.
As this is the first occasion that consolidated financial results are presented, comparative figures for the previous period has not been presented.
The board of directors has recommended a dividend at the rate of Rs 4.50 per share and one time special dividend of Rs 1.50 per share on account of extra ordinary income total amounting to Rs 6 per share for the financial year 2004-05.