MUMBAI, JAN 25: Videsh Sanchar Nigam Ltd (VSNL) has posted a net profit of Rs 268.4 crore in the third quarter of fiscal 1998-99. Total income from operations stood at Rs 1781.2 crore. As this is the first year of the company declaring quarterly results, a comparative picture vis-a-vis the performance of the company in the corresponding period of the previous year is not available.The other income of the company is Rs 3.23 crore while the expenditure incurred during the quarter was Rs 1363.3 crore and in the absence of any interest earned, the gross profit of the company stood at Rs 417.9 crore. Depreciation was Rs 20.5 crore and the provision for taxation Rs 129 crore.The paid up equity of the company stands at Rs 95 crore while the annualised earning per share is Rs 113.01.In fiscal 1997-98, VSNL recorded sales of Rs 6436.1 crore and earned a net profit of Rs 967.9 crore.GREAT EASTERN SHIPPING CORPORATIONThe Great Eastern Shipping Corporation has posted an income of Rs 221.5 crore forthe third quarter of the current fiscal. This is 5.38 per cent lower than the income of Rs 234.1 crore recorded in the corresponding period of the previous fiscal.Total expenditure during this period was Rs 126.6 crore as against Rs 144.9 crore in the previous year. The net profit after tax for the third quarter was Rs 29.8 crore, down 8.58 per cent from Rs 32.6 crore in the corresponding period of the previous year.The profit before tax was Rs 42.2 crore which was up from the previous year's Rs 38 crore.
