MTNL gets a Pat on the back; Hands over Interim Dividend
Dated: 27th Feb-08
New Delhi, February 27th, 2008: MTNL today presented a cheque for Rs.106.31
crores, towards 30% interim dividend for the Financial Year 2007-08 to the
Hon’ble Minister of Communications & IT, Thiru. A. Raja. In its Board Meeting
held on 30.01.2008, MTNL Board approved payment of interim dividend @ 30%
on the paid up equity capital of Rs.630 Crores for the financial year 2007-08.
It is worth mentioning here that MTNL is making all out efforts to provide state of
the art services to its customers at the most affordable prices. The period has
also seen a significant growth in the subscriber base of services like mobile,
broadband, IPTV, etc. in both Delhi & Mumbai. As on 31 st January, 2008, MTNL’s
customer base of voice services exceeds 6.87 million.
Speaking on the occasion, the Honorable Minister of Communication and IT,
Thiru A. Raja said, “ I congratulate MTNL for introducing latest technologies in
their network, and it’s very evident that they are moving in the right direction.
MTNL has been playing a key role in stimulating the market dynamics by
reducing tariffs and providing greater consumer benefits”.
MTNL has paid dividend @ 40% on its equity capital of Rs.630 Crores during last
year. During the last seven years(excluding 2007-08), an aggregate amount of
Rs.1921.50 Crores has been paid as dividend to all the shareholders out of
which Rs.1080.78 Crores has been paid to the Govt. of India on their
shareholding of 56.25% in the company.
About MTNL: MTNL was set up on 1st April, 1986 by the Government of India to
upgrade the quality of telecom services, expand the telecom network, introduce
new services and to raise revenue for telecom development needs of India’s key
metros – Delhi, the political capital and Mumbai, the business capital of India. In
the past 21+ years, the company has taken rapid strides to emerge as India’s
leading and one of Asia’s largest telecom operating companies. Besides having a
strong financial base, MTNL has achieved a customer base of 6,872,942 as on
31st January, 2008.
The company has also been in the forefront of technology induction by
converting 100% of its telephone exchange network into the state-of-the-art
digital mode. The Govt. of India currently holds 56.25% stake in the company.
In the year 2007-08, the company is focussing on widening the cellular, CDMA
based WLL, IPTV & VOIP customer base, achieving at least 5,00,000 broadband
customers, and further expanding of telecom services in Mauritius through its