MTNL profits down as competition heats up

30 Oct 2006

State-owned telco Mahanagar Telephone Nigam Ltd (MTNL), which offers fixed and mobile services in Mumbai and Delhi, has posted a 25% decline in fiscal second quarter net profit to INR1.21 billion (USD26.8 million) attributed to stiff competition and regulatory changes, including a reduction in access deficit charges (ADCs). Total revenues declined 5% to INR13.77 billion in the three months ended 30 September. MTNL ended September with 3.76 million fixed line customers (including WiLL fixed users) and 80,355 million WiLL mobile subscribers. Broadband customers reached 323,329 and the mobile subscriber base reached 2.29 million.

India, Mahanagar Telephone Nigam Limited (MTNL)