VSNL joins $2 billion club in FY07
Tata Group's VSNL clocks about Rs 8,857 crore consolidated revenues for the financial year which ended on March 2007.business Updated: May 26, 2007 22:04 IST
Tata Group's VSNL on Saturday said it has joined the two-billion-dollar club clocking about Rs 8,857 crore consolidated revenues for the year ended March 31, up 85 per cent over the preceding year.
"VSNL has transformed its business model from an India-centric, single business company to a truly global communications solutions company. Our acquisitions have helped create a strong platform to become a global carrier," company Managing Director N Srinath said.
These are the highest ever recorded annual revenues in VSNL's history, the company said in a statement.
Its EBITDA (earnings before interest, tax, depreciation and amortisation) for the reporting year stood at Rs 1,299 crore, up 49 per cent, from Rs 871 crore a year ago.
The company's board has recommended a dividend of Rs 4.50 per share, it said.