Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
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 feedback@equitybulls.com





Other Headlines:

TCS Recognized as a Leader in Finance and Accounting Digital Augmentation Suite by Everest Group

Meera Industries Ltd receives order from Bolivia

Sun Pharma announces Australian TGA approval of ILUMYA™

Reliance Industries Ltd updates on KGD6 well

Dion Global Solutions launches Modular Wealth Intelligence Platform

Infosys Recognized as a Microsoft Azure Expert Managed Services Provider

Nagarjuna Fertilizers and Chemicals Ltd extends shut down of plant

Dilip Buildcon Ltd declared L-1 for Indore Metro Rail Project, Phase-I

Gravita expands production capacity of its plant situated at Chittoor, Andhra Pradesh

Graphite India Ltd clarifies on pollution issues at Bengaluru Plant

CARE assigns rating to Pitti Laminations Ltd

GRUH Finance Ltd to consider 2nd quarter results on Oct 29, 2018

Ashok Kumar Pradhan appointed as MD and CEO of United Bank of India

City Union Bank Ltd opens new branch at Uthukottai

Asian Paints commissions Plant at Mysuru

SBI assigns loans given to Modern Dairies Ltd to Edelweiss ARC

Tera Software Ltd announces resignation of CFO

NELCAST Ltd commissions Phase I of greenfield project

Karnataka Bank Ltd board to announce Q2 results on Oct 12, 2018

Infosys and Trinity College Launch Catalytic Partnership to Bridge the Liberal Arts and Digital Technology

Wipro Cited as a Leader in Everest Group's Digital Workplace Services PEAK Matrix™ assessment

Superstar Anushka Sharma, the new face of Softline Leggings

Ind-Ra assigns rating to Gallantt Metal Ltd

S Harisankar takes charge as MD and CEO of Punjab & Sind Bank

Suraj Products Ltd receives 5 Star Rating from Odisha State Pollution Control Board

S S Mallikarjuna Rao appointed as MD and CEO of Allahabad Bank

Asda selects HCL Technologies to help drive IT transformation

CARE reaffirms rating of Forbes and Company Ltd

Tata Power bags 'GOLD' at the Chapter Convention on Quality Circle 2018 Award

Ind-Ra assigns IND A1+ rating for GHCL Ltd's Commercial Paper

ICRA reaffirms long term rating of Sundaram Brake Linings Ltd

The Training Room and TCS iON Partner to Launch International Training and Careers Platform

ACCC announces clearance of the merger of Arrow Pharmaceuticals and Apotex Australia & NZ

Infosys Launches Wingspan, a Transformational Learning Solution for Enterprises

Delta Magnets Ltd approves merger of Arrow Textiles Ltd and MMG

NBCC India Ltd secures business of Rs. 921.67 crore in August 2018

G E Shipping takes delivery of Secondhand Very Large Gas Carrier 'Jag Vasant'

RBI allows Rana Kapoor to continue as MD & CEO of YES Bank till Jan 31, 2019

Asian Paints Ltd announces sad demise of Shri Ashwin Choksi

CCI imposes penalty of Rs. 12.35 crore to Bajaj Hindusthan Sugar Ltd

Blue Coast Hotels Ltd hands over possession of Goa hotel to ITC

Shankara Building Products Limited opens its 134th Store

Allahabad Bank to raise Rs. 1500 crore through QIP in 2018-19

Manali Petrochemicals Ltd to commence supply of new products from Sep 19, 2018

HPL Electric Participates in 12th edition of 'Renewable Energy India Expo 2018'

Kanpur Plastipack Ltd extends date for payment of final call money

Newgen Software Technologies Ltd signs agreement with HP for supply of software licences

Raghav Productivity Enhancers Ltd bestowed with Rajasthan Udyog Ratan Award 2018

Varroc Engineering arm forms JV with ELBA SA

Nucleus Software's lending software goes live at VietCredit Finance Joint-Stock Company





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

disclaimer copyright © 2005 - 2018