Telecom Lead India: The State-run telecom equipment maker
ITI Ltd posted net income of Rs 437 crore in the quarter, up 67 percent
from Rs 262 crore in the same quarter last year.
The company posted net loss of Rs 114 crore for the
quarter ended March 31, 2012, as compared to net loss of Rs 130 crore in the
same period last year .
The company said that about 80 per cent of the total
turnover for the year 2011-12 has come from newer/diversified business
activities as compared to 11 per cent in the year 2008-09 and in the year
2010-11, it said.
Also, about 89 per cent of the turnover used to come from BSNL/MTNL
projects/businesses, but this year, ITI has achieved higher turnover from non-BSNL/MTNL
business. The company is also contemplating to offer voluntary retirement
scheme (VRS) to its employees to bring down the manpower to suit its present
ITI may enter renewable energy business
ITI Ltd is planning to enter diversified businesses such
as renewable energy. R Chandrasekhar, secretary, DoT and chairman, Telecom
Commission and KL Dhingra, CMD, ITI signed a MoU for the year 2012-13.
The thrust areas of MoU include pursuing growth
opportunities in telecom sector and exploiting diversified businesses such as
renewable energy. The MoU envisages that ITI concentrate on revival plans with
due approval of the Government agencies.