State-run Mahanagar Telephone Nigam Limited (MTNL) has narrowed its losses by 30 per cent to Rs 1,099.5 crore for the fourth quarter ended March 31, from Rs 1,573.7 crore in the same quarter last year.
“We have taken some initiatives to generate additional sources of revenue and we are confident that these operational losses would completely be wiped out soon,” Chairman and Managing Director Kuldeep Singh said.
For 2010-11, net losses widened by 8.3 per cent to Rs 2,826 crore from Rs 2,610.9 crore in the previous year.
Total income advanced to Rs 3,841.2 crore from Rs 3,781 crore. MTNL has around 52 million subscribers.
An amount of Rs 301.4 crore is accounted for by MTNL towards wet lease for infrastructure and other services provided by it in respect of the Commonwealth Games during the year, of which Rs 242 crore was received during the year.