Mahanagar Telephone Nigam (MTNL), the basic telecom provider in Delhi and Mumbai, has reported a 27.66% increase in net profit to Rs 675 crore for the first half of 1998-99, riding on a 17.5% growth in revenues. Revenues increased from Rs 2,216.06 crore to Rs 2,603.69 crore for six months to September 30.
The annualised earnings per share (EPS) of the company has risen to Rs 23.80 compared with Rs 17.93 in the fiscal 1997-98. The turnover in the second quarter stood at Rs 1,322.70 crore compared with Rs 1,108.03 crore in July-September last year.
The PSU reported a 15.6 per cent increase in revenues for the first quarter (April-June 1998) to Rs 1,280 crore. Net profit increased 13.4 per cent to nearly Rs 300 crore. Its annualised earnings per share has risen to Rs 19.04 from Rs 17.93.