VSNL to be renamed Tata Communications

The board of directors of Videsh Sanchar Nigam (VSNL), which met today, approved a proposal to change the name of the company to Tata Communications, subject to the name being made available by the Registrar of Companies and approval of the shareholders.

The company today reported a 42% decline in net profit at Rs 61.42 crore for the second quarter ended September 30, 2007 when compared with Rs 106.92 crore in Q2FY07. Total income declined to Rs 987.94 crore from Rs 1,003.07 crore in Q2FY07.