RailTel Registers 21 Per Cent Growth Amid Second Wave
RailTel has announced a consolidated income of Rs 315 crore in the first quarter of financial year 2021-22 (FY21-22) thereby registering a growth of 21 per cent over consolidated income of Rs 261 crore in the first quarter of FY 20-21.
With this, RailTel has posted a profit before tax amounting to Rs 28 crore and profit after tax of Rs 21 crore during the first quarter (Q1) of financial year 2021-22 on a consolidated basis.
Talking about the future prospects of the company, RailTel chairman and managing director Puneet Chawla in its 125th board meeting held on 12 August said, “despite the second wave of Covid-19 pandemic hitting the country hard, we have maintained the momentum and posted a substantial growth in Q1 income as compared to similar period of FY20-21.
“Our retail broadband service — Rail Wire has reached 4 lakh customers across India, demand for HD video conference, data centre, IBW, VPN services is growing which is great news for us. Right now, apart from the railways our focus is on the health, education and defence sectors. We are also providing IoT, AI based solutions to clients. We are on the right track of posting higher revenue growth this year as well.”
RailTel, a ‘Mini Ratna (Category-I)’ central public sector enterprise, is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network covering several towns and cities and rural areas of the country.
RailTel offers a bundle of services like, MPLS-VPN, Telepresence, leased line, tower co-location and data centre services. RailTel is also working with Indian Railways to transform railway stations into digital hubs by providing public Wi-Fi at railway stations across the country, and more than 6,040 stations are live with RailWire Wi-Fi.