ITI posts strong revenue growth in FY19

State-run telecom product maker ITI Ltd Friday said it has recorded 20 per cent growth in revenue at Rs 2,051 crore for the financial year 2018-19. The company had registered revenue of Rs 1,703 crore in 2017-18.

With the revival package support from the government and execution of BharatNet phase 2 projects and rejuvenated manpower, the turnover of the company has improved, ITI said in a statement.

"The company's performance for current financial year has invigorated us to strengthen business verticals like Smart Energy Meters, ICT-IOT, Mini PC manufacturing, Data Center hosting services, manufacturing of Rupay and Master cards with a focus on design and development of indigenous products and technologies," ITI Chairman and Managing Director K Alagesan said.