MTNL Q1 FY07 net dips 17 per cent

New Delhi, July 28: Mahanagar Telephone Nigam Ltd (MTNL) today posted a 17 per cent decline in net profit of Rs 131.28 crore for the first quarter ended June 30, 2006 as compared to Rs 158.29 crore in the same quarter last year.

The company's total income also decreased 2 per cent from Rs 1,395.29 crore for Q1 FY06 to Rs 1,361.89 crore for Q1 FY07.

Last month the company said it has been awarded licence for National Long Distance Service (NLD) and an agreement to this effect was signed between the Department of Telecom (DoT) and the company on May 10, 2006.

UNI