TCIL, a Mini Ratna company, pays Government Rs 14.20 Crore dividend for FY 2022-23
TCIL, a Mini Ratna company, has announced a significant dividend payment of Rs 14.20 crore for the Financial Year 2022-23 to the government. The Chairman & Managing Director of TCIL, Sanjeev Kumar, presented a dividend cheque to the Secretary, Telecom, Shri Neeraj Mittal, marking the company’s commitment to its shareholders and the government. With a consistent track record of profitability since its inception, TCIL has already paid dividends totaling Rs 294.19 crore to the Government until FY 2022-23.
This dividend is based on the Government’s initial investment in equity of Rs 0.3 Crore, which was further increased to Rs 16 crore in 2015-16. As of March 31, 2023, the group and standalone net worth of the company stands at Rs 1,712.00 crore and Rs 618.56 crore, respectively. In FY 2022-23, TCIL achieved an impressive revenue growth of 25 per cent over the previous year, with total standalone revenue and profit after tax reaching Rs 2,001.7 crore and Rs 35.50 crore, respectively.
Established in August 1978, TCIL operates under the Department of Telecommunications of the Ministry of Communications, with the Government of India holding 100 per cent of its share capital. The company specializes in engineering and consultancy services for projects in Telecommunications, IT, and Civil construction in India and abroad, having successfully executed projects in over 70 countries worldwide. In addition to its overseas operations in countries such as Kuwait, Kingdom of Saudi Arabia, Oman, Mauritius, and Nepal, TCIL is involved in the Pan Africa e-Vidya Bharti & Arogya Bharti Network project, operating in more than 15 African countries, with plans to expand further.
The company is also engaged in several high-value Government of India projects, including Rural ICT for the Department of Posts, NFS for Defence, Navy Network, Bharatnet Project for APSFL, Telangana Fiber, BBNL VSAT, Indian Coast Guard, MHA, CCTV Surveillance Projects for State Police, Smart Cities, Railways, e-education, and e-Health Projects.
