Mahanagar Telecom Nigam Limited posts a loss
April 30th, 2009 Leave a comment Visited 45 times, 1 so far today
Mahanagar Telecom Nigam Limited posts a loss
Government owned telecom giant Mahanagar Telecom Nigam Limited has posted a net loss of Rs 83.8 crore for the fourth quarter that ended in March.
The company said that this was largely due to increased staff costs during the quarter.
This is a pretty disappointing performance considering MTNL had posted a net profit of Rs 173.73 crore in the same quarter last year.
MTNL said: “Staff cost during this year has gone up by Rs 4,61.1 crore, mainly due to merger of dearness allowance with basic pay, which was implemented with effect from January 1, 2007.”
Company’s income during the quarter also fell down to Rs 1,287.16 crore from Rs 1,448.83 crore.
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