Mahanagar Telephone Nigam Limited (MTNL) has reduced its losses by 30 per cent to Rs 10.995 billion for the quarter ended March 31, 2011. The company had a net loss of Rs 15.73 billion in the corresponding quarter last year.
According to Kuldeep Singh, CMD, MTNL, ?We have undertaken a few initiatives to generate additional sources of revenue and we are confident that these operational losses would be wiped out soon.?
For 2010-11, the company has posted a net loss of Rs 28.26 billion, an 8.27 per cent increase from Rs 26.10 billion in the same period previous year, while its total income rose to Rs 38.41 billion, as against Rs 37.81 billion during the period under consideration.
