Financial Daily from THE HINDU group of publications
Sunday, Jan 30, 2005
Financial Daily from THE HINDU group of publications Sunday, Jan 30, 2005 |
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Corporate Results
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Telecommunications MTNL Q3 net down at Rs 200.9 crore Our Bureau
New Delhi , Jan. 29 MAHANAGAR Telephone Nigam Ltd (MTNL) on Saturday reported a lower net profit of Rs 200.98 crore during the third quarter ended December 2004, compared to Rs 482.69 crore notched in the corresponding quarter in the previous year. "Higher net profit in the third quarter of the previous year is not comparable due to the changed depreciation policy," an MTNL release said here. The company's income from services in the third quarter dipped to Rs 1,261.49 crore against Rs 1,525.99 crore in the year-ago period. "The staff expenses during the quarter ended December 2004 has gone up to Rs 412.48 crore, that is, by Rs 67.79 crore compared to the corresponding quarter of the previous year. This is mainly due to absorption of Group B employees which was not considered in the corresponding quarter of the previous year and also on account of increase in provision of pension liability," it added.
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