MTNL offers voluntary redundancy to 1,300 more staff

19 Apr 2006

State-run Indian telco MTNL has announced plans to offer voluntary redundancy to 1,300 more employees in the third phase of cutbacks designed to trim costs. Last month the operator offered redundancy to 612 employees, following on from cuts of around 1,200 staff in 2005.

In February MTNL reported a 33% decline in net profit for its fiscal third quarter, despite income from its mobile operations surging 125% in the period. Net profit for the three months ending 31 December fell to INR127 million (USD2.8 million) on the back of a lowering of the Access Deficit Charge. Income from mobile operations climbed to INR153.4 million, up from INR68.2 million a year earlier.

India, Mahanagar Telephone Nigam Limited (MTNL)