BSNL declares interim dividend of 2 bn

Tuesday, 21 December 2004, 08:00 Hrs
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NEW DELHI: State-owned telecom major Bharat Sanchar Nigam Limited (BSNL) said it expected a net profit of $1.3 billion in 2004-05 and declared an interim dividend of $ 43 million for the fiscal ending Mar 31.

BSNL chairman and managing director A.K. Sinha said the company had posted a net profit of 59.76 billion in 2003-04, mainly due to increase in revenue and reducing expenditure.

The company also declared a dividend of 2.81 billion for the fiscal 2003-04, which Sinha said, was the highest paid by any state-owned enterprise.

The company, which was formed on Oct 1, 2000, added three million new cellular connections during 2003-04 and connected 702 more cities and towns on its GSM network during the period.

The total capital addition since its inception was more than 450 billion and its net worth stood at 630 billion on March 31, 2004.

BSNL plans to venture into broadband Internet service Jan 15.

Source: IANS
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