State-owned Mahanagar Telephone Nigam Ltd has reported a dip in net profit to Rs 877.1 crore (Rs 8.771 billion) for the year ended March 31, 2003 as against Rs 1300.6 crore (Rs 13.006 billion) in the previous year.

According to MTNL's notice to the Bombay Stock Exchange on its audited results for financial year 2003, the turnover of the company has decreased to Rs 6,030.6 crore (Rs 60.306 billion) in the year ended March 2003 as compared to Rs 6,392 crore (Rs 63.92 billion) in the year ended March 2002.