Comments
The share price of Tamil Nadu Telecommunication rose 4.49 per cent on the BSE on Monday to ₹10. In the last one month, the stock climbed from ₹8.09 on November 13 to ₹10 on December 12.
The company released its standalone September quarter results on October 11, 2023, where it reported a net loss of ₹3.19 crore compared with ₹2.77 crore loss posted in September 2022 quarter.
The company’s total revenue was ₹1.86 lakh (compared with ₹41,000 in the September 2022 quarter). For the year ended March 2023, it reported a total income of ₹18.31 lakh. Similarly, the company statement says, its losses as of September 30, 2023, are ₹2,00,93,955, surpassing its net worth. The net worth is negative at ₹1,55,26,335.
- Also Read: Limited interest. Telecom spectrum auction unlikely this calendar year: Top sources at DoT
Founded in 1988 as a collaborative effort between Telecommunications Consultants India Limited (TCIL), Tamil Nadu Industrial Development Corporation Limited (TIDCO), and Japan’s Fujikura Limited, Tamil Nadu Telecommunications Limited (TTL) initially specialised in telecommunications consultancy and projects.
In 1998, TTL diversified its offerings, venturing into the production of cutting-edge optical fibre cables through a collaborative partnership with Fujikura Limited.
New developments
The TTL Factory near Chennai, Tamil Nadu, has successfully leased its manufacturing facilities and premises through a Request for Proposal (RFP) process. The RFP, issued on March 15, 2023, attracted a single bid, resulting in the issuance of a Letter of Award (LoA) to the winning bidder on May 24, 2023. The lease agreement operates on a revenue-sharing model and is set to last for 9 years and 11 months.
- Also Read: S Krishnan appointed IT and Electronics Secretary; Neeraj Mittal to take charge as Telecom Secretary
Concurrently, the company is strategically exploring diversification initiatives in response to the competitive cable industry landscape. Efforts are also underway to secure preferential orders from State and Central Public Sector Undertakings (PSUs) for the supply of Optical Fiber Cable.
To further strengthen operations, the company is actively seeking partnerships for fresh investments, aiming to revive the factory and venture into new business domains.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.