RailTel's total income grew by 27% to Rs 2,002 crore in FY'23

New Delhi: Miniratna Railways PSU RailTel holds its 23rd Annual General Meeting (AGM) on Thursday through video conferencing.

The meeting was chaired by RailTel’s Chairman and Managing Director (CMD) Sanjai Kumar, who presented the annual report of the company for the financial year 2022-23. The board members of RailTel were also present during the meeting.

According to an official statement, the board members of Railtel passed the resolution for paying a final dividend of Rs. 1.05/- per share (10.5 percent of paid-up share capital) during the AGM. 

While addressing, RailTel CMD said, "despite challenging market conditions and disruptions in the global supply chain, RailTel has demonstrated remarkable performance. He said that over the past five years, we have consistently achieved growth in total income, and in the fiscal year 2023, our income has surpassed Rs 2000 crore, reaching a new pinnacle. Actually, the company has achieved a record-breaking total income of Rs 2002 crore, marking a remarkable 27 percent growth compared to the previous financial year's income of Rs 1578 crore."

"Furthermore, our market capitalization currently stands at over 5,000 crore, and with the increasing confidence of investors, we hope to expand further," he added.

Kumar further said that during the fiscal year 2022-23, our operating revenue experienced a significant surge of 27 percent, reaching a turnover of Rs 1964 crores, as opposed to Rs 1548 crores in the preceding financial year.

Talking about RailTel’s close partnership with Indian Railways, Kumar said that Railtel has been playing a pivotal role in driving the digital transformation of Indian Railways. We have implemented NIC e-office, HD video conferencing service TPAS (Tele Presence as a Service), Hospital Management Information System (HMIS). We are working on the project of installation of an IP-based Video Surveillance System (VSS) at more than 5000 railway stations and the work at 308 stations has been successfully completed. Railtel is implementing the project of Tunnel Radio Communication systems for various railway sections.

We are actively exploring opportunities in related domains such as the Modern Train Communication System and Kavach.

Talking about monetization exercise on RailTel’s Wi-Fi network at railway stations, Kumar informed that we have established a strategic partnership with a consortium of companies to capitalize on the vast potential of this Wi-Fi network, which spans across 6,108 railway stations throughout the country.

Speaking on company’s order book, Kumar said that it stands at Rs 4800 crore having footprint across multiple sectors like railways, IT, defence, health, mining, coal, banking, smart cities, insurance and more.

(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.)