Financial Daily from THE HINDU group of publications
Tuesday, Jul 26, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 26, 2005 |
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Info-Tech
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Financial Performance Corporate Results - Telecommunications MTNL Q1 net falls 26 pc to Rs 172 cr Our Bureau
NEW DELHI: Mahanagar Telephone Nigam Ltd today reported 26-per cent decline in net profit for the quarter ended June 30 to Rs 172.48 crore compared to Rs 233.9 crore during the corresponding quarter last year. The income from services also showed a decline of 9.2 per cent to Rs 1,264.1 crore during the quarter, the company said in a statement. MTNL reported an increase of 100.19 per cent in revenues from mobile services to Rs 101.9 crore. It doubled its subscriber base in Mumbai and Delhi to 14 per cent to 11.13 lakh from 7.0 per cent in the first quarter of 2004-05. The company, however, said it made an impressive performance during the quarter despite stiff competition, downward revision of tariffs and denial of access deficit charge. Other income went up 96.77 per cent during the first quarter to Rs 139.47 crore. Staff expenses were down Rs 32 crore at Rs 443.8 crore while administrative expenses were down by Rs 9.8 crore at Rs 231.7 crore. The company said it gained 50,000 broadband connections over the past few months and was also tying up with content providers for broadband services.
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