TCIL reduces interest rates by 1.5% to financially support Tamilnadu Telecommunication

31 Jul 2013

Telecommunications Consultants India (TCIL), a Government of India Enterprise, one of the Promoters of Tamilnadu Telecommunication who is having maximum stake of 49% share holding is financially supporting the company for its operations. In view of this, TCIL has decided to reduce the interest rate by one and a half percent in order to support the company to reduce its interest burden and overall cost. With this the company’s interest burden is expected to get reduced by around Rs 60 lakhs per annum.

Besides, the add-on order received by the company for supply of 1,602 KMs of 24F Optical Fiber Cable to BSNL valuing Rs 7.98 crore is under execution. The company is also expecting spill over order from BBNL and the order is expected during end of August, 2013 against NOFN Project. With these the company’s performance during 2013-14 will be much better compared with the past three years performance.

Tamilnadu Telecommunications (TTL) incorporated in 1988, as joint venture of Telecommunications Consultants India (TCIL), a PSU fully owned by the Ministry of Communications, Government of India, and Tamilnadu Industrial Development Corporation (TIDCO), under the Government of Tamil Nadu.

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