Date:31/10/2004 URL: http://www.thehindubusinessline.com/2004/10/31/stories/2004103101600300.htm

Back MTNL net falls 6.83 pc in Q2

Our Bureau

New Delhi , Oct. 30

MAHANAGAR Telephone Nigam Ltd has reported a 6.83 per cent decline in net profit for the second quarter ended September 2004.

The state-owned company recorded a profit of Rs 207.8 crore during this period compared to Rs 223 crore during the corresponding quarter of the previous year.

Revenue has fallen by 10.33 per cent to Rs 1,393.13 crore (Rs 1,553.5 crore), a company statement said. The staff expenses in Q2 went up by a whopping 221 per cent to Rs 493.65 crore due to absorption of Group B employees on account of increase in provision of pension liability, the statement said.

The administrative and operative expenses in Q2 have been cut to Rs 230.48 crore (Rs 287.60 crore).