MTNL profits decline despite steady subs growth

31 Jul 2006

State-owned telco Mahanagar Telephone Nigam Ltd (MTNL), which offers fixed and mobile services in Mumbai and Delhi, has posted a 17.1% decline in its fiscal first quarter net profit. Income for the three months ended 30 June 2006 fell to INR1.31 billion (USD28.1 million), down from INR1.58 billion a year earlier. Revenues were down slightly to INR13.62 billion, from INR14 billion.

At the end of June 2006 MTNL had 3.85 million fixed line customers (including WiLL-F users) and 80,090 WiLL-M subscribers. Broadband customers reached 266,632 and the GSM mobile subscriber base reached 2.17 million.

India, Mahanagar Telephone Nigam Limited (MTNL)