Business Daily from THE HINDU group of publications
Saturday, Jul 01, 2006
Business Daily from THE HINDU group of publications Saturday, Jul 01, 2006 |
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Info-Tech
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Dividend Announcement Corporate Results - Telecommunications
Our Bureau
New Delhi , June 30 State-owned Mahanagar Telephone Nigam Ltd (MTNL) has recommended for final payment of dividend at the rate of 40 per cent on the paid up equity share capital of Rs 630 crore. This includes 30 per cent interim dividend paid in February 2006. Steep reduction in telecom tariffs, loss in revenue from access deficit charge and an outgo in the form of interconnect charges to BSNL have pushed state-owned MTNL's net profit down 56.60 per cent to Rs 140.27 crore for the quarter ended March 31, 2006, in comparison to Rs 323.27 crore in the corresponding period in 2004-05. MTNL had announced its un-audited fourth quarter results in April. The total income of the company also decreased 3.80 per cent to Rs 1,594.51 crore for the quarter ended March 31, as against Rs 1,657.61 crore in the same period in 2004-05, the company informed the BSE. For the year ended March 31, the total income declined to Rs 5,785.57 crore from Rs 6,084.10 crore in 2004-05. The scrip closed at Rs 154.60, up 5.49 per cent compared to Thursday's price . The dip in income is also partly because during the year MTNL lost 1.97 lakh customers. TRAI also reduced the price of all leased circuit prices for which MTNL had to face a loss of Rs 92 crore. The telecom regulator's decision to stop ADC payments to MTNL resulted in a loss of Rs 329 crore.
More Stories on : Dividend Announcement | Telecommunications | Mahanagar Telephone Nigam Ltd
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