MTNL plans to list its Mauritius arm

Mahanagar Telephone Nigam Limited (MTNL) plans to list its Mauritius arm, Mahanagar Telephone Mauritius Limited (MTML).

MTML, a wholly-owned subsidiary of MTNL that entered Mauritius in 2005, is already a profitable company. Its overall revenues for the third quarter, financial year 2011 stood at around 0.32 billion, with a net profit of 30 million.

The operator launched operations in the island nation with international long distance (ISD) services in 2005. It started full-fledged telecom services in 2007 and has already created a base of 0.1 million subscribers. It also operates in Nepal through a partner, UTL, in which it has 26.6 per cent stake.