RailTel declares a final dividend of Rs 1.85 in its 24th AGM

New Delhi: RailTel Corporation of India Limited (RailTel), a Mini Ratna Central Public Sector Undertaking (PSU) under the Ministry of Railways, held its 24th Annual General Meeting (AGM) on Wednesday, via video conferencing. The meeting was chaired by RailTel's Chairman and Managing Director (CMD) Sanjai Kumar, who presented the company's Annual Report for the financial year 2023-24.

PSU Watch is now on Whatsapp Channels. Click here to join

Key members of RailTel's board, including V Rama Manohara Rao (Director of Finance), Manoj Tandon (Director of Project, Operations & Maintenance), and Yashpal Singh Tomar (Director of Network Planning & Marketing) along with government nominee directors and independent directors, were in attendance.

During the AGM, shareholders approved the payment of an interim dividend for the financial year 2023-24 and declared a final dividend of Rs 1.85 per share, which represents 18.5 percent of the company's paid-up share capital.

Discussing the financial performance, Sanjai Kumar highlighted that RailTel has achieved a total income of Rs 2,622 crores and a profit after tax (PAT) of Rs 246 crores for the year ending March 31. This represents a 31 percent increase in both revenue and profits compared to the previous year.

Kumar expressed optimism about the company's future, citing a strong order book and anticipating substantial growth in operating income in the coming quarters.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)