Cabinet to Deliberate on Potential Asset Transfer for ITI
The Indian government is set to discuss the potential transfer of assets related to ITI (Indian Telephone Industries Limited) in an upcoming Cabinet meeting. This decision could have significant implications for ITI's future operations and structure. The move is seen as part of the government's strategy to optimize public sector enterprises in the telecom industry. The outcome of this meeting will be crucial for ITI's stakeholders and could reshape the company's role in India's telecommunications landscape.
02Jun 25
ITI Secures ₹25 Crore Initial Payment from C-DOT in ₹200 Crore Deal
Indian Telephone Industries (ITI) has received the first installment of ₹25 crore from the Centre for Development of Telematics (C-DOT) as part of a ₹200 crore sale deed. This payment represents 12.50% of the total deal value. The collaboration is expected to strengthen ITI's financial position, foster strategic partnerships, and reinforce its market position in the telecom equipment manufacturing sector.
ITI Reports Significant Reduction in Q4 Losses, Revenue Surges 73%
ITI Limited, a state-owned telecom tech company, showed marked improvement in Q4 FY2024. Net loss reduced to ₹48.90 crore from ₹101.30 crore year-over-year, while revenue surged 294.59% to ₹1,072.90 crore. Q4 sales increased by 299.73% to ₹1,034.50 crore, and EBITDA turned positive at ₹27.90 crore. Operating profit margin improved to -1.02% from -16.80%. However, annual performance for FY2024 saw revenue decline by 9.66% to ₹1,308.10 crore and net loss increase to ₹568.90 crore.
09Apr 25
ITI Launches State Network Operations Center for BharatNet Phase-III in Himachal Pradesh
Indian Telephone Industries Limited (ITI) has established a State Network Operations Center (S-NOC) in Himachal Pradesh as part of the BharatNet Phase-III project implementation. This center will monitor network performance, manage broadband infrastructure, troubleshoot connectivity issues, and collect data for future improvements. The S-NOC is expected to enhance rural internet access, support e-governance initiatives, and boost local economies through digital inclusion in remote areas of the state.
ITI Receives ₹100 Crore Initial Payment from C-DOT for Bangalore Land Deal
ITI Limited has received the first installment of ₹100 crore from C-DOT as part of a ₹200 crore land deal in Bangalore. The company is transferring 22.258 acres in Electronic City to C-DOT. The remaining ₹100 crore will be paid after completing statutory formalities. This transaction represents a significant asset monetization for ITI, potentially improving its financial position.