VSNL BOARD RECOMMENDS 45 % DIVIDEND FOR FINANCIAL YEAR 2003-04
- Q4 NET PROFIT AT RS. 822 MILLION
MUMBAI, JUNE 22 2004: Videsh Sanchar Nigam Ltd. (VSNL), India's leading Internet and Telecom Service
provider today announced its audited financial results for the fourth quarter and financial year ended 31st March
2004. THE BOARD OF DIRECTORS OF THE COMPANY, AT THE BOARD MEETING HELD TODAY
ALSO RECOMMENDED A DIVIDEND OF 45 %, I.E. RS.4.50 DIVIDEND PER SHARE (WITH A
FACE VALUE OF RS. 10).
THE MAIN HIGHLIGHTS OF THE COMPANY'S Q4 FINANCIAL RESULTS ARE-
Speaking on the financial performance of the company, Mr. S. K. Gupta said, "The Company is diversifying into
other business areas to broad base its business model so as to grow in the competitive environment. The share of
enterprise data business is growing at a rapid pace and today contributes around 30 % of the company's
The company attributes the drop in its income to drop in ILD voice revenue on account of sharp decline in
international settlement rates, domestic tariffs, competition and the growing concern of the ILD grey market. The
company stated that the year witnessed a voluminous growth in the traffic routed into the country through grey
Some of the key achievements of VSNL during the year were:
- VSNL achieved the distinction of being the first telecom service provider globally to achieve the coveted TL
9000 - Quality Management System Certification.
- The company commenced the construction of the 3175 km long, Tata Indicom India-Singapore Cable System,
the terabit capacity undersea cable that is expected to transform the international bandwidth scenario in the
- VSNL signed a Rs. 500 crore Right to Use agreement for 23,000 route kms or 100,000 fibre kms capacity on
an existing advanced fibre optic domestic long distance backbone.
- The company acquired the businesses of Dishnet's ISP division for a consideration of Rs. 270 Crores.