Sharp decline in international settlement as well as domestic tariffs have resulted in a 44.5 per cent fall in the net profit of Videsh Sanchar Nigam (VSNL).
Net profit for the year ended March 2003 was lower at Rs 780.1 crore compared with Rs 1,407.4 crore in the previous year. However, the company has declared 85 per cent dividend (Rs 8.50 dividend per share) for 2002-03.
Net sales were down 30.26 per cent at Rs 4,538 crore against Rs 6,508.1 crore in 2001-02, while total income was also lower at Rs 4,812.5 crore compared with Rs 7,089 crore.
VSNL has stated that it has,
