MTNL narrows Q1 loss to Rs 731 crore

State-run telecom firm MTNL today reported narrowing of standalone loss to Rs 730.64 crore in the second quarter ended September 30, 2017 mainly on account of reduction in employees remuneration and benefits.
The company had posted a loss of Rs 768.32 crore in the same period a year ago.
The employees remuneration and benefits, which accounts for about 70-80 per cent of MTNL's total income, reduced to Rs 623.19 crore in the reported quarter from Rs 699 crore a year ago.
The total income of MTNL declined by around 9 per cent to Rs 791.1 crore in the second quarter of current fiscal from Rs 870.98 crore it reported in the same period of 2016-17.

The finance cost of the company increased to Rs 366.22 crore from Rs 359.05 crore during the period under review.
The company earned Rs 549.5 crore from basic services but posted a loss of Rs 288.4 crore in the segment before interest income, exceptional items, finance cost and tax in July- September 2017.
The loss from cellular service in the similar category was Rs 117.4 crore while it earned Rs 94.12 crore from the segment in the reported quarter.
Shares of MTNL today closed at Rs 22.25 a unit, down by 2.84 per cent compared to previous close, at the BSE today.