Mahanagar Telephone Profit Falls

Indian state-owned Mahanagar Telephone Nigam ( MTE) said its first-quarter earnings fell 17.1%.

The company earned Rs 1.31 billion in the quarter compared with Rs 1.58 billion a year ago.

First-quarter revenue rose 1.4% to Rs 12.8 billion.

Income from mobile services was Rs 1.76 billion in the quarter compared with Rs 509.3 million a year ago. Other income fell from Rs 1.35 billion to Rs 837 million as no interest component out of refund of income tax has been booked in this quarter.

MTNL said it added a total of 228,506 cellular subscribers in this quarter and its total cellular subscriber count stands at 2,169,661 at the end of the quarter.

This story was created through a joint venture between TheStreet.com and IRIS.

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