State-owned (SCI) on Friday reported a 27.97 per cent decline in consolidated internet revenue to Rs 114.17 crore for the primary quarter of this fiscal. The corporate had clocked a consolidated internet revenue of Rs 158.51 crore within the corresponding interval a 12 months earlier, it stated in a regulatory submitting.

Its complete earnings rose to Rs 1,500.53 crore within the newest June quarter in opposition to Rs 1,048.47 crore within the year-ago interval.

The corporate’s complete bills through the quarter underneath evaluation elevated to Rs 1,390.13 crore from Rs 899.25 crore a 12 months in the past.

SCI stated the corporate has assessed the present state of affairs and primarily based on inner and exterior data obtainable, it believes that there is no such thing as a COVID-19 affect within the first quarter of 2022-23, therefore there is no such thing as a affect on its skill to proceed operations and meet its monetary commitments.

The federal government is promoting its total 63.75 per cent stake within the firm together with the switch of administration management.

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