MTNL net dips 58% to Rs 200.98 cr

BS 200 SCORECARD

Mahanagar Telephone Nigam Ltd (MTNL) reported a 58.3 per cent decrease in net profit to Rs 200.98 crore during the quarter ended December 2004, compared with Rs. 482.69 crore during the corresponding quarter of the previous financial year.

A company release issued on Saturday said the higher profit in the third quarter of the previous year was not comparable due to changed depreciation policy.

The company's income from services during the third quarter of 2004-05 also declined 17.3 per cent to Rs. 1261.49 crore. The company attributed this decline in income to stiff competition from other operators and reduction in tariff both in Delhi and Mumbai.

The staff expenses during the quarter ended December 2004 rose Rs. 67.79 crore to Rs. 412.48 crore during the third quarter of the current financial year, compared to the corresponding quarter of the previous year.

The administrative and operative expenses during the quarter ended December 2004 increased Rs. 16.36 crore to Rs.264 crore. MTNL's other income, however, increased 15.74 per cent to Rs 124.45 crore during the quarter.