Mahindra British Telecom Ltd, owned 60 per cent by M&M and 40 per cent by BT, recorded a net profit of Rs 63 crore (Rs 55.9crore) for the year ended March 2000, M&M Finance director Bharat Doshi told an analysts' meet. M&M MD Anand Mahindra told reporters a proposal to float Mahindra British Telecom on the stock market was slightly delayed because of internal restructuring in BT. "That has somewhat set back the timetable. But otherwise both partners are very much convinced that Mahindra British Telecom is at the point where listing is the right strategic move for it," he said.