VSNL Q3 net profit at Rs 142.3 crore, up 61.5 per cent over Q2 2004-05
January 17, 2005

Videsh Sanchar Nigam Ltd (VSNL), India’s premier telecom and internet services company, today announced its unaudited financial results for the third quarter ended December 31, 2004.

The key highlights during third quarter 2004-05 are:
Profit after tax for the quarter ended December 31, 2004 was Rs 142.3 crore as against Rs 88.1 crore during Q2 of this fiscal, an increase of 61.5 per cent. During the quarter, the company has also seen a 5.1 per cent growth in its total income over Q2 of this financial year. The total income during Q3 2004 stood at Rs 849.3 crore as compared to Rs 807.9 crore previous quarter. There was an extra-ordinary income of Rs 68 crore from the sale of stake in New Skies Satellite.

The company continued to witness sustained growth in the enterprise data business this quarter. The revenues from NLD business have grown strongly during the period October – December 2004.

“With the continued double-digit growth of our enterprise business, the launch of Tata Indicom Cable and the proposed acquisition of the submarine cables of Tyco Global Network, VSNL is well placed to strengthen its position as the preferred supplier of solutions to enterprises”, said N Srinath, director (operations), VSNL.