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MTNL posts 45% increase in net profit
By siliconindia staff writer
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Monday, 26 April 2004, 19:30 IST
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.