MTNL net declines 77.5% at Rs 20.58 cr

State-run telecom firm MTNL today reported a 77.5 per cent decline in its net profit at Rs 20.58 crore for the second quarter ended September 30, 2009.

MTNL had a net profit of Rs 91.49 crore in the same quarter last year, the company said in a statement.

Revenues from the mobile services also declined by 10 per cent to Rs 179.55 crore during the quarter from Rs 199.45 crore in the same period a year ago.

The staff expenses during the said quarter have gone down to Rs 460.10 crore from Rs 474.21 crore in the corresponding quarter of previous year, it added.

The administrative expenses during the current quarter have also decreased from Rs 250.84 crore to Rs 199.80 crore.

The net income from services stood at Rs 955.36 crore as compared to Rs 1,200.92 crore in the corresponding quarter of the previous year.

During this quarter, there has been an increase in the cellular subscriber base as MTNL has added a total of 72,284 cellular subscribers, taking the subscriber base to 43,69,502.

MTNL total broadband subscribers have crossed seven lakhs.

Shares of the company declined 1.15 per cent, to settle at Rs 69.00 today.