State run telecom service provider Mahanagar Telephone Nigam Limited (MTNL) has announced financial results for the quarter ended 31st March 2011. The company’s total income for the quarter saw a decrease of 5% year on year, closing at Rs 855.01 crore in comparison to Q4-FY10’s Rs 900.22 crore, and a sequential decline of 7%. Net loss MTNL for for Q4-FY11 was Rs. 1099.5 crore, compared with Rs. 671.04 crore loss the previous quarter, and a loss of Rs. 1573.7 crore for the same quarter last year. Results | Press Release Annual Results On an annual basis, MTNL's total earnings (unaudited) increased by 1.59% to Rs 3841.21 crore from Rs 3781 crore, for the year ended 31st March 2011. The company registered a net loss of Rs 2826.95 crore during the year, compared to last year's losses of Rs 2610.97 crore. The loss is being attributed to one time charges on account of 3G spectrum and BWA liability of Rs.11097.97 crore, for which Rs. 157.61 crore has been amortized for the quarter ending 31st march 2011. An amount of Rs. 301.48 crore is accounted for by MTNL “towards wet lease for infrastructure and other services provided by MTNL in respect of Commonwealth Games”. Rs 242 crore has been received by MTNL during the last financial year. Highlights MTNL offers basic landline, broadband and cellular services in the two cities of Delhi and Mumbai. MTNL's major share of revenue comes from basic services. The company's income from basic services during Q4FY11 was…
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