Further Rs.100 Crore has been allotted in budget as Capex funds for FY 2018-19. Out of the effective capex amount of Rs.200 Crores received during August & September 2017, Rs.189.55 Crores was already utilized for implementation of New projects which was envisaged for the year 2017-18. Rs.137 Crores received on 31st March 2018. Out of Rs.2264 Crore, Government has released Rs.192 Crore as first phase disbursement to the Company towards capital expenditure during 2014-15 and Rs.80 Crore has been released during 2016-17.ĭuring the financial year 2017-18, the company received Rs 337 Crore as Capex funds. The Cabinet Committee on Economic Affairs (CCEA), during February 2014, has approved the Revival plan of ITI of Rs.4156.79 Crores This package consists of Rs.2264 Crore in the form of equity for financial assistance in all the plants of ITI for implementation of new projects and Rs.1892.79 Crore to be financial assistance as grant-in-aid.
IMPLEMENTATION OF REVIVAL PACKAGE OF ITI LIMITED The company has plans to keep this profitability going on. The company is making efforts to regain its strong leadership position in the telecommunications domain in the country. The contribution (net of material cost) for the year 2017-18 is Rs.338 Crore, which is comparable for that of previous year at Rs.298 Crores. The Financial Year 2017-18 has been a breakthrough year for ITI and it is a year of turn around for ITI, making profit without grants after a long gap of 16 years.Without the grants from the Government of India, net profit for the period before tax (after exceptional and/or extraordinary items) increased to Rs.102 Crore for the year ended Maas against a loss of Rs.56 Crore for the previous year. This is remarkably the highest turnover in the past seven years. The Company has achieved Sales of Rs.1703 Crore during the year 2017-18 against Rs.1611 Crore during the previous year 2016-17. The Board of Directors have pleasure to present the 68 th Annual Report of your Company along with its Audited Statements of Accounts for the year ended March 31, 2018, together with the Auditorsâ Report and Comments on the Accounts by the Comptroller and Auditor General (CAG) of India.
0 kommentar(er)
