MTNL posts 45% increase in net profit

By siliconindia staff writer   |   Monday, 26 April 2004, 07:00 Hrs
Printer Print Email Email
NEW DELHI: State-owned Mahanagar Telephone Nigam on Saturday reported over 45 per cent increase in net profit to Rs 1,277 crore during 2003-04 compared to Rs 877 crore in the previous financial year.

MTNL, which provides telecom services in Delhi and Mumbai, registered total income of Rs 6,396.8 crore during last fiscal as compared to an income of Rs 6,030.6 crore in 2002-03.

For the fourth quarter ending March 2004, the company's net profit went up 67 per cent to Rs 307 crore compared to Rs 183.6 crore in the corresponding quarter of the previous fiscal.

"In spite of long distance call rates reduction by 48 per cent with effect from March 2003, the income of the company has increased by Rs 146.8 crore to Rs 1,584.7 crore during January-March 2004 period," an MTNL statement said.

SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..