MTNL reports a net profit of Rs 9.39 billion in 2004-05

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MTNL reports a net profit of Rs 9.39 billion in 2004-05

July 15, 2005

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According to news reports, MTNL earned a net profit of Rs 9.39 billion in 2004-05, a reduction of 18.38 per cent. The net income also dropped 12.19 per cent to settle at Rs 55.9 billion. This is a result of the intense competition faced by MTNL, the decrease in ADC and implementation of tariff reductions. However, MTNL's other income increased by 56 per cent to reach Rs 4.9 billion and its income from mobile services went up by 53.7 per cent to Rs 2.87 billion in the same period. The company's board of directors has recommended a dividend of 45 per cent, including an interim dividend of 20 per cent.