MTNL net surges 47% to Rs 206 cr

CORPORATE SCORECARD

State-owned telephony major Mahanagar Telephone Nigam (MTNL) has posted an increase of 47.09 per cent in its net profit at Rs 206.32 crore in the fourth quarter ended March 31, 2007, compared with Rs 140.27 crore recorded during the same period in FY06.

The company's total income during the quarter under review fell to Rs 1,386.07 crore, a dip of 13.72 per cent, from Rs 1,594.51 crore recorded in the year-ago period.

For the 12-month period ended March 31, the telephony major posted a net profit of Rs 643.12 crore up from Rs 580.29 crore recorded during the same period last year.

The company's total income fell to Rs 5,530.69 crore in FY07 compared with Rs 6090.99 crore in the year ended March 31, 2006, the company informed the stock exchanges today.

In a release issued here today, MTNL Chairman and Managing Director RSP Sinha said, "This performance is very encouraging and is a result of our relentless efforts over the past two years."

"If you take out the one-time revenue of Rs 300 crore recovered from other operators in Q4 last year, you will notice that the Q4 revenue has gone up significantly despite reduction in tariffs, which demonstrates the company's phenomenal growth potential. I am happy that MTNL is moving in a positive direction and I am confident that the times ahead will be exciting," he said.

Against other income of Rs 149.23 crore during the fourth quarter of the previous year ended on March 31, 2006, the company has earned revenues of Rs 186.10 crore during this quarter. This is an increase of 24.71 per cent or Rs 36.87 crore.

MTNL provides services in Delhi and Mumbai and has customer base of over 5 million. The Indian government holds a 56.25 per cent stake in the company.