ITI turnover up by 30 per cent; losses down by Rs 182 cr

Bangalore, Apr 28 (UNI) Telecom major ITI reported a 30 per cent increase in its turnover at Rs 1801 crore in 2005-06 and reduced its losses by Rs 182 crore at Rs 451 crore.

The ITI Board, which took note of the unaudited results for the fiscal 2006, was expecting to close the current year with a turnover of Rs 4,700 crore and had a firm order book of Rs 2,000 crore at the beginning of the new fiscal. The company was also expecting orders for ADSL worth Rs 126 crore and 18.5 million lines of GSM valued at Rs 5,000 crore.

The company's performance represented a 50 per cent jump over the 2003-04 when it slipped back to red following a steep crash in equipment prices.

The spurt in the manufacturing activities last year was triggered by an order of Rs 500 crore at its new facilities at Mankapur and Rae Bareli for GSM mobile infrstructure for BSNL West Zone.

The Company, in a release, said ''Growing competition and lack of orders did not deter ITI from achieving sales worth Rs 229 crore of WLL-CDMA infrastructure equipment, Rs 102 crore for handsets, Rs 83 crore for Tax/Tandem equipment.'' Its Defence and other turnkey projects earned Rs 127 crore.

Among the units, Bangalore Plant topped to be the major revenue earner at Rs 555 crore followed by Mankapur plant Rs 520 crore, Palakkad Rs 224 crore, Naini Rs 140 crore, Rae Bareli Rs 110 crore and Srinagar Rs four crore.

ITI diversification into non telecom products had thrown up a wide range of banking mechanising gadgets, SMPS power supplies and solar panel.

Continuing its efforts to downsize the company offered voluntary retirement to over 400 employees, resulting in total exit of 13,213 since the inception of the scheme in 1991. ITI was gainfully employing the surplus staff with over 900 personnel shifted to installation and commissioning work of GSM turnkey project in West Zone and 200 on WLL-CDMA projects.

UNI VK RG HVB1801