VSNL and MTNL disclose annual results
Videsh Sanchar Nigam Limited (VSNL) has posted a 100 per cent increase in net profit at Rs 7.56 billion on a standalone basis during 2004-05, compared with Rs 3.7 billion for the year ended March 31, 2004. Total income for the financial year rose to Rs 34.1 billion from Rs 33.7 billion during the same period of the previous year. Meanwhile, the public sector Mahanagar Telephone Nigam Limited (MTNL) has reported an 18.38 per cent decline in its net profit for 2004-05 at Rs 9.38 billion compared to the previous year. MTNL's net income from services declined to Rs 55.92 billion, a drop of 12.19 per cent. The company's board of directors has recommended a dividend of 45 per cent, including an interim dividend of 20 per cent.
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