Mahanagar Telephone Nigam (MTNL) is a state-owned telecom utility that provides fixed line and other services in Delhi and Mumbai. The telco is 56% owned by the government with approximately 3.5 million fixed lines in service.MTNL posted a net loss of $135 million during 2010 second quarter against a marginal profit of around $5 million, attributable to higher staff expenses. Wage revisions implemented during the March quarter of 2010 were responsible for this loss. MTNL currently has 45,000 employees and spent 30% of its revenues during the last fiscal 2009-10 on employee wages.
Indian ADRs to Buy, Sell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.