Mahanagar Telephone Nigam Ltd on Friday said it has received a refund of Rs 516.18 crore from the Income-Tax Department for assessment years 2001-02 and 2003-04. Of this, Rs 131.47 crore is interest on refunds.

“The interest will increase the profit of the company for 2008-09. Already, Rs 125.71 crore has been taken into account in the third quarter of 2008-09,” the company said.