Goldstone Teleservices (GTSL) has posted a 48 per cent drop (on annualised basis) in net profit at Rs 1.22 crore for the year ended March 2003 as against Rs 1.76 crore profit posted for the nine months ended March 2002. Total income too dropped by 44 per cent to Rs 13 crore from Rs 17.52 crore due to a fall in revenues from its telecom operations.
During the year the company diversified into business process outsourcing (BPO) segment and invested over Rs 10 crore in the new business. It has set up a 200-seat call centre in the city during the last fiscal. The division posted a revenue of Rs 3.48 crore and a profit of Rs 0.83 crore, which were included in the aforesaid numbers.
The company launched a hi-tech silicon rubber polymer insulators for railways and power sector. Claimed to be the first manufacturer in the country for the product, the company has already received a trial order worth Rs 1 crore from the Indian Railways.
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The company has also executed trial orders for electricity boards in Andhra Pradesh, Madhya Pradesh, Delhi and West Bengal.
The total market size of these insulators upto 33KVA in the country is estimated at Rs 150 crore per annum.