Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

ITI Limited Announces Financial Results for the Quarter Ended December 31, 2017

Posted On: 2018-02-17 02:11:04

ITI Limited, country's first PSU post-independence and premier telecom manufacturing company announced the financial results for the quarter ended 31st December 2017 with a profit of Rs 86 crores without any government grants.

Company's total income for the period ended December 31, 2017 was Rs 922 crores up and net profit for the period was increased by 109 % to Rs. 19 crores for the period ended December 31, 2017 without any aid from government as against the loss of Rs 203 crores for the previous year. As on 31.12.2017, ITI's order book position is Rs. 2137 Cr.

Highlighting the company's achievement for the year 2016-17, Shri S Gopu, Chairman & Managing Director, ITI Limited said, "After a gap of 16 years, ITI Limited has achieved this profit for the third quarter which is a remarkable feat towards ITI's revival. Out of our five units, four units have registered a significant profit. ITI is now heading towards a great financial year 2017-18 as the company has won Rs 8000 Cr deal of Army Static Switched Communication Network (ASCON) from the Ministry of Defence, Rs 800 Cr order for the supply of Smart Energy Meters from Energy Efficiency Services Limited (EESL)."

ITI Limited has achieved a significant milestone by being a part of phase I of Government of India's flagship project "BharatNet" connecting over One Lakh Gram Panchayats across the country with high speed optical fibre network. The project envisages hi-speed broadband connectivity at an affordable price in over 2.5 lakh villages. The Company has received Certificate of Appreciation from Hon'ble Union Minister of Communications for its significant contribution, as an Equipment Supplier for the BharatNet Phase 1. The tenders for phase II project are announced and ITI is making all out efforts to participate in all the tenders.

As part of Ministry of Urban Development's 'Swatch Bharath' mission to manufacture feedback devices to civic bodies of different states, ITI has already installed 1000 devices in municipal corporations of Delhi, Karnataka, Tamil Nadu, Gujarat & Telangana states.

ITI is also setting up a Data Centre with a rack space of 24,000 Sq ft. The company has plans to make 150 racks space ready by March 2018. With the support of Government of India, ITI has upgraded the electronics manufacturing infrastructure to supplement indigenous manufacturing.

Shares of ITI LTD. was last trading in BSE at Rs.117.65 as compared to the previous close of Rs. 119.6. The total number of shares traded during the day was 115351 in over 1134 trades.

The stock hit an intraday high of Rs. 123 and intraday low of 116.6. The net turnover during the day was Rs. 13700597.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Blue Coast Hotels Ltd announces resignation of company secretary
Maan Aluminium Ltd Fixes Apr 6, 2018 as Record Date for Interim Dividend
DLF Ltd fixes Mar 28, 2018 as record date for interim dividend
PNC Infratech Bags Aligarh-Kanpur Package-II HAM of Rs. 1197.0 crore
Zydus receives final approval from the USFDA for Omeprazole and Sodium Bicarbonate Capsules
ZEN Technologies Ltd to form subsidiary in USA
Ramco Systems Limited announces demise of Director
Shilpa Medicare Ltd receies EIR from USDA for formulations manufacturing facility
Asian Granito India Ltd gives corporate guarantee of Rs. 40.30 crore
KRBL Limited to launch Chia Seed, Flax Seed in international market
Ashoka Buildcon Ltd arm emerges Lowest Bidder for NHAI Project
TAAL Enterprises Ltd announces resignation of company secretary
Airtel offers the Samsung Galaxy S9 range starting at Rs. 9900
Shilpa Medicare Ltd updates on US FDA inspection
ICRA reaffirms ratings of Mahindra Logistics Ltd
Grasim Industries increases production capacity at its Epoxy Plant in Vilayat, Gujarat
K.P. Energy Ltd Board recommends Bonus Issue
Tribhovandas Bhimji Zaveri Ltd to open its 37th store at Phoenix Market City Mall in Pune
Max Financial Services Ltd calls for Board Meeting On March 21, 2018
Kilitch Drugs India Ltd appoints additional director
Sadbhav Infrastructure Project Ltd emerges L-1 bidder for HAM project in Gujarat
Creative Eye Ltd announces resignation of Mr. Mukesh Sharma
Jubilant Industries Ltd appoints director, company secretary
CARE reaffirms ratings of PNC Infratech Ltd
UPL Limited updates on transaction
Thermax wins Rs. 503 crore order for co-generation plants
Mideast Integrated Steels Ltd announces resignation of Whole time director
Oceanaa Biotek Industries Ltd signs MOU for new shrimp feed manufacturing unit
CARE assigns ratings to PNC Rajasthan Highways Private Limited
Reliance Industries wins FT ArcelorMittal boldness in Business Award
Ramky Infrastructure awarded project worth Rs. 939.41 crores
HDFC Board declares Interim Dividend of Rs. 3.50
Coromandel International Ltd Board declares Interim Dividend of Rs. 3
Blue Dart Express Ltd announces resignation of CFO
PNB Housing Finance Ltd appoints Mr. Jayant Dang as Director
Steel Strips Wheels Bags Another Big Repeat Order Of 130,000 Caravan Wheels From Europe
Federal Bank Offers UPI Payment Facility to BSNL Customers
Shashijit Infraprojects Ltd receives new project in Silvassa
Gokul Solutions Ltd appoints Mr. Anand Kumar Dubey as additional director
Trident certified with OEKO-TEX® Made in Green label
Goa Carbon Limited shuts down Paradeep unit for maintenance
Talwalkars Better Value Fitness Limited fixes record date for demerger
City Union Bank Ltd opens new branches at Shimoga, K.Pudur and Guntakal
Somany Ceramics Ltd redeems Rs. 50 crore commercial paper on Mar 15, 2018
Banco Products India Ltd declares interim dividend of Rs. 4.20
Jenburkt Pharmaceuticals Ltd fixes Mar 28, 2018 as record date for interim dividend
A Infrastructure Ltd fixes Apr 23, 2018 as record date for bonus issue
Xpro India Ltd to sell land in Faridabad for Rs. 8.25 crore
L&T Construction & DFCCIL signs contract valued Rs. 2,864 Crore for Eastern Dedicated Freight Corridor
Hindustan Zinc Ltd approves 2nd interim dividend of Rs. 6

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018