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Mahanagar Telephone Nigam Ltd on Friday widened its loss to Rs 1,374.4 crore for the fourth quarter ended March 31, 2012.
The losses were mainly led by high interest cost on loans and on provisions made for employees' retirement benefits during the year. The company's net loss was Rs 1,099.5 crore in the corresponding period last year.
Total income rises
Total income during the period, however, grew by 4.46 per cent to Rs 843 crore as against Rs 807 crore in same period last year.
“MTNL's broadband and 3G services continue to grow. MTNL, despite the fact that it provides Broadband services only in Delhi and Mumbai, has become the third largest broadband service provider in the country with 10,40,191 broadband subscribers on its roll,” the company said in a statement.
The company's interest cost for the quarter was Rs 269.4 crore, up 86.8 per cent against Rs 144.2 crore during same quarter of 2011.
Provisions made for employees' retirement benefits were at Rs 557.5 crore, up 36.5 per cent as compared to Rs 408.4 crore in the corresponding period of last year.
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