Telecom major Bharti Airtel has paid a first-ever interim dividend of Rs 11.75 crore (Rs 117.5 million) to its minority partner in Bharti Hexacom, state-owned TCIL, at the rate of 15 per cent for FY'12, a senior official said on Monday.
Bharti Hexacom, a joint venture between Bharti Airtel and TCIL, offers mobile services in Rajasthan. Bharti owns a 70 per cent stake, while the remaining 30 per cent is held by state-run Telecom Consultants of India.
The company offers mobile services in six northeastern states (excluding Assam) and Rajasthan and has a little over 15 million customers.
"Bharti Airtel has paid an interim dividend of Rs 11.75 crore to TCIL for 2011-12 at 15 per cent," a senior TCIL official told PTI.
TCIL has been demanding the payment of a dividend for many years now, but the demand was not met as Bharti Airtel had maintained that all profits are being ploughed back to expand operations.
Senior Telecom Ministry officials were also in favour of TCIL being paid a dividend.