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VSNL net down due to writeoff. - Views on News from Equitymaster
 
 
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  • May 3, 2000

    VSNL net down due to writeoff.

    Videsh Sanchar Nigam Ltd. is a government owned monopolistic provider of international telephony services

    It also provides telex and telegraph services as well as leased lines,e-mail,internet and video-conferencing.Till recently VNSL had the rights to be the only provider of international payment gateways

    wever recently other private parties have been given the facility of providing gateways which will intensify competition for VSNL.Though traffic volume and internet subscriber base have grown by 16% and 72% respectively revenues have not increased that much due to a fall in tariff rates. The main reduction for the profits has been the writeoff of investments in ICO Global Communications, its subsidiary to the extent of Rs 5127 m.

    (Rs m) FY99 FY00 Change
    Sales 67,683 70,241 3.8%
    Other Income 3,445 2,481 -28.0%
    Expenditure 51,170 52,111 1.8%
    Operating Profit (EBDIT) 16,513 18,130 9.8%
    Operating Profit Margin (%) 24.4% 25.8%  
    Interest - - 0.0%
    Depreciation 814 1,123 38.0%
    Profit before Tax 19,144 19,488 1.8%
    Other Adjustments - 5,127  
    Tax 5,894 6,369 8.1%
    Profit after Tax/(Loss) 13,250 7,992 -39.7%
    Net profit margin (%) 19.6% 11.4%
    Earnings per share 139.47 84.13 -39.7%

     

     

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