VSNL's net profit for Q1 up by 18 pc

Mumbai, July 31 (UNI) Videsh Sanchar Nigam Ltd (VSNL), one of the leading global communication solutions provider under the flagship of Tata group, has reported an increase in net profit by 18.5 per cent for the quarter ended June 30, 2007.

The company's net profit for the first quarter of FY08 was at Rs 104 crore against Rs 88 crore in the corresponding quarter of the previous fiscal, the company said in a statement here today.

In its standalone results for the Q1 of the current fiscal, VSNL recorded revenue increase by 9 per cent at Rs 1,008 crore against Rs 924 crore during the corresponding quarter of the previous year.

EBITDA during the same period was up by 11 per cent at Rs 232.7 crore, the VSNL statement added.

UNI