Rediff On The Net, Infotech: MTNL reports 16.56 per cent rise in net profit


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April 30, 1999

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MTNL reports 16.56 per cent rise in net profit

Mahanagar Telephone Nigam Limited has reported a net profit of Rs 13.17 billion during financial 1998-99, up 16.56 per cent compared with Rs 11.3 billion in 1997-98.

Income from services increased to Rs 52.46 billion from Rs 46.54 billion last year while other income also recorded a significant increase to Rs 1.97 billion from Rs 1247.4 million in 1997-98.

T O D A Y

• Wipro results
• MTNL results
• Call rates cut

Total expenditure rose to Rs 27.54 billion from Rs 24.52 billion whereas interest payment came down to Rs 493.8 million from Rs 866.2 million in 1997-98.

Gross profit stood at Rs 26.4 billion in 1998-99 from Rs 22.4 billion while provision for depreciation amounted to Rs 6.633 billion and that of taxation to Rs 6.59 billion.

UNI

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