MTNL declares 30% dividend

By : |September 30, 1999 0

BANGALORE: Mahanagar Telephone Nigam Ltd. (MTNL) has declared 30 per cent dividend on a paid-up share capital of Rs 630 crore for the year ended 1998-99.

The company registered Rs 1,297 crore as profit after tax during 1998-99, which is 14.79 per cent higher than profits registered in the previous financial year. The turnover grew 8.12 per cent to Rs 5,032.46 crore. The results were announced at its 13th annual general meeting.

Earning per share during 1998-99 stood at Rs 20.59 as against Rs 17.94. Net worth rose to Rs 6,249.26 crore from Rs 5,161.78 crore, registering a growth of 21 per cent. During the financial year, the company has shown a growth in the telephone lines installed by adding 2.47 lakh new telephone lines, both in Mumbai and Delhi. The company has also successfully launched Internet services, IN and VCC card services.

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