State-run telecom operator Mahanagar Telephone Nigam Limited's (MTNL) net profit nose-dived 63 per cent in 2008-09 to Rs 211.7 crore from Rs 586.8 crore the previous fiscal.
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The public sector undertaking's turnover also fell 1.4 per cent to Rs 5,250 crore in the period under review from Rs 5,329.9 crore the year before.
MTNL seeks private players to run its 3G services
The government has earmarked Rs 15,740.02 crore ($3.2 billion) for the two state-run telecom majors including MTNL in the budget for 2009-10.
The other state-owned operator, Bharat Sanchar Nigam Limited, has been allocated Rs 14,015 crore, while Rs 1,725.02 crore will be provided to fund MTNL's expenses.
