MTNL Presented Dividend of over Rs.35 crore to Communications Ministry

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MTNL-Presented-Dividend-of-over-Rs.35-crore-to-Communications-MinistryMumbai and Delhi’s leading telecom service operator and India’s first 3G mobile service provider Mahanagar Telephone Nigam Ltd (MTNL) today presented a cheque for Rs.35.43 crores, towards 10% dividend for the last Financial Year to the Inida's Minister of Communications & IT, Thiru. A. Raja.

Speaking on the occasion, the 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”. A Raja has asked the MTNL to stand before other operators in spite of competitive atmosphere. He also assured all support to the MTNL in discharging its special responsibility of social obligations. The Minister was speaking on the occasion of presentation of dividend cheque for Rs. 35 crores by MTNL

MTNL is the market leader in offering

latest telecom solutions including 3G mobile service 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.

The recent launch of 3G service in Delhi attracted more than 20K customers within one week of the launch. As on 31st August, 2009, MTNL’s customer base of voice services exceeds 8.18 million

In its 23rd AGM held on 25-09-2009, MTNL approved payment of final dividend @ 10%, amounting to Rs. 63 Crore on the paid up equity capital of Rs.630 Crores for the financial year 2008-09, out of which Rs. 35.43 Crore paid to Govt. of India and Rs. 27.57 Crore.

MTNL has paid dividend @ 40% on its equity capital of Rs.630 Crores during last year. During the last eight years(excluding 2008-09), an aggregate amount of Rs.2173.50 Crores has been paid as dividend to all the shareholders out of which Rs.1222.59 Crores has been paid to the Govt. of India on their shareholding of 56.25% in the company.

MTNL has achieved a customer base of 8,182,133 as on 31st August, 2009. 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 2008-09, the company is focussing on 3G Service, Broadband, IPTV & VOIP customer base, achieving at least 7,50,000 broadband customers, and further expanding its operations through acquisitions and Greenfield licenses in overseas market.

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