State-run telecom operator Mahanagar Telecom Nigam (MTNL) today reported a net loss of Rs 83.8 crore for the fourth quarter ended March 31, mainly on increased staff costs in the period.
The company had a net profit of Rs 173.73 crore in the January-March quarter of 2007-08, MTNL informed stock exchanges.
"Staff cost during this year has gone up by Rs 4,61.1 crore, mainly due to merger of dearness allowance with basic pay, which was implemented with effect from January 1, 2007," the public sector firm said.
Total income during Q4 of FY09 declined to Rs 1,287.16 crore from Rs 1,448.83 crore of the same quarter of FY08.
Staff cost during the March quarter of FY09 grew over two-fold to Rs 650.78 crore, compared to Rs 302.38 crore of the corresponding period a year ago.
Further, for the financial year ended March 31, 2009, the telecom operator posted a net profit of Rs 214.82 crore, registering a 63.39 per cent drop compared to Rs 586.89 crore of the same quarter a year ago.
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Besides, total income during the FY09 fell marginally to Rs 5,304.20 crore from Rs 5,329.93 crore of the previous financial year.
Shares of MTNL closed at Rs 72.05, up 0.14 per cent on the BSE.