RailTel's total income up 27% to Rs 2,002 crore in FY23: RailTel CMD

RailTel's total income has grown by 27 per cent to Rs 2,002 crore in the fiscal year 2022-23, its Chairman and Managing Director (CMD) Sanjai Kumar said on Thursday.

The 23rd Annual General Meeting (AGM) of RailTel Corporation of India Ltd (RCIL), a Mini Ratna CPSU under the Ministry of Railways was held on August 31, through video conferencing in the national capital.

The meeting was chaired by RailTel's Chairman and Managing Director (CMD) Sanjai Kumar, who presented the annual report of the company for the financial year 2022-23.

"Despite challenging market conditions and disruptions in the global supply chain, RailTel has demonstrated remarkable performance. Over the past five years, we have consistently achieved growth in total income, and in the fiscal year 2023, our income has surpassed Rs 2000 crore, reaching a new pinnacle," Kumar said.

"The company has achieved a record-breaking total income of Rs 2002 crore, marking a remarkable 27 per cent growth compared to the previous financial year's income of Rs 1,578 crore. Furthermore, our market capitalization currently stands at over 5,000 crore, and with the increasing confidence of investors, we hope to expand further," stated the RailTel CMD further.

Kumar added that during the fiscal year 2022-23, RailTel's operating revenue experienced a significant surge of 27 per cent, reaching a turnover of Rs 1,964 crores, as opposed to Rs 1,548 crore in the preceding financial year.

Talking about RailTel's close partnership with Indian Railways, Kumar said that RailTel has been playing a pivotal role in driving the digital transformation of Indian Railways.

"We have implemented NIC e-office, HD video conferencing service TPAS (TelePresence as a Service), and Hospital Management Information System (HMIS). We are working on the project of installation of an IP-based Video Surveillance System (VSS) at more than 5,000 railway stations and the work at 308 stations has been successfully completed," said Kumar.

Railtel is implementing the project of Tunnel Radio Communication systems for various railway sections. We are actively exploring opportunities in related domains such as the 'Modern Train Communication System' and 'Kavach', he added.

Giving information about the monetization exercise on RailTel's Wi-Fi network at railway stations, Kumar said "We have established a strategic partnership with a consortium of companies to capitalize on the vast potential of this Wi-Fi network, which spans across 6,108 railway stations throughout the country.

Speaking on the company's order book, Kumar said that it stands at Rs 4800 crore having a footprint across multiple sectors like railways, IT, defence, health, mining, coal, banking, smart cities, insurance and more.

A resolution to pay a final dividend of Rs 1.05 per share (10.5 per cent of paid-up share capital) was also passed during this AGM.

It is notable that RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise under the Ministry of Railways, is one of the largest neutral telecom infrastructure and ICT Solutions and services providers in the country, owning a Pan-India optic fibre network covering several towns, cities and rural areas of the country.

Along with a strong a reliable network of 61000+ RKM of Optic fibre, RailTel has two MeitY empaneled tier III data centers as well. With its Pan India high-capacity network, RailTel is working towards creating a knowledge society at various fronts and has been selected for the implementation of various mission mode projects for the Government of India in the telecom field.

RailTel offers a bundle of services like MPLS VPN, Telepresence, lease line, Tower Co-location, Data centre services etc.

Members of RailTel board, V Rama Manohara Rao (Director/Finance), Manoj Tandon (Director/ Project, Operations & Maintenance) and Yashpal Singh Tomar (Director/Network Planning & Marketing), Rakesh Ranjan (Govt Nominee Directors), Rameshwer Meena (Govt Nominee Directors), Subhash Sharma (Part-time Non Official Director/ Independent Director) and N. Manoharan (Part-time Non Official Director/ Independent Director) were present during the meeting.