Financial Daily from THE HINDU group of publications
Wednesday, Feb 01, 2006
Financial Daily from THE HINDU group of publications Wednesday, Feb 01, 2006 |
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Info-Tech
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Financial Performance Corporate Results - Telecommunications MTNL net dips 37 pc in Q3 Our Bureau
NEW DELHI: Mahanagar Telephone Nigam Ltd (MTNL) has reported a 36.5 per cent decline in its profits to Rs 127 crore during the third quarter ended December 31, 2005, from Rs 200 crore in the corresponding period in the previous fiscal year. Net sales increased to Rs 1,277 crore (Rs 1,261 crore) this quarter. MTNL said that the dip in profits could be due to low collection of access deficit charge (ADC), which is a levy imposed by the Government on private operators to fund non-viable telephones in rural areas. The income from mobile operations, however, increased by over 125 per cent to Rs 153 crore compared to Rs 68 crore in the corresponding period last year. MTNL has over 5.5 million mobile users in Delhi and Mumbai. MTNL also announced an interim dividend of 30 per cent for the current fiscal. MTNL stocks on the BSE went down marginally by 0.39 per cent from Rs 142.1 per share to Rs 141.5 per share. The shares had touched a 52-week high of Rs 154.5 per share ion January 10 and a low of Rs 108 per share in October 2005.
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