Videocon Industries’ subsidiary - Videocon Telecommunications (VTL) plans to carry on its telecom operations and aims to take part in the auction for 2G spectrum. Last month Supreme Court had cancelled 122 licenses, which also included 21 licenses of VTL.
It proposes to participate in the auction and is hopeful of continuing the business thereafter. It has got 2G licenses in January 2008 by the then telecom minister A Raja.
Videocon Industries has posted a fall of 46.77% in its net profit to Rs 86.42 crore for the fourth quarter ended December 31, 2011 as compared to Rs 162.36 crore for the corresponding quarter previous year.
