MTNL 3Q 2008 results reveals drop in net profit, revenue (India)
February 2, 2009 at 17:42 Leave a comment
State-owned Indian telco Mahanagar Telecom Nigam ltd (MTNL) has reported financial results for the three months ended 31 December 2008, revealing a drop in net profit to INR583 million (USD11.9 million) from INR942 million in 2007. The fall has been attributed to the merger of 50% of dearness allowance (DA) with basic pay, leading to staffing costs increasing from INR4.33 billion to INR5.89 billion. Revenue for the operator meanwhile fell by 4.5% to INR11.3 billion. During the quarter MTNL increased its wireless subscribers by 222,079, bringing its total to 3.89 million, while customers taking broadband services from the telco rose by 42,379 to 645,784.
Entry filed under: Asia, Financial, India, MTNL. Tags: Asia, Financial, India, MTNL.
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