MTNL Q3 loss drops to Rs.671.04 crore

February 11th, 2011 - 11:05 pm ICT by IANS  

Mumbai, Feb 11 (IANS) State-run Mahanagar Telephone Nigam Ltd (MTNL) Friday posted a net loss of Rs.671.04 crore for the third quarter ended December 2010 against a net loss of Rs.919.97 crore for the same period last fiscal on account of increase in dearness relief of pension and high wages.The total income of the company though increased to Rs.1,068.02 crore for the quarter ended December 2010 as against Rs.1,035.90 crore during the corresponding fiscal, the company said in a regulatory filing.

An amount of Rs.326 crore is accounted for by MTNL towards wet lease for infrastructure and other services provided by the company in respect of Commonwealth Games during the year.

This includes Rs.840 million accounted for during the current quarter.

At the Bombay Stock Exchange the shares of the company closed 2.79 percent at Rs.42.35.

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