MTNL slips as net loss widens to Rs 890 cr in Q2

Mahanagar Telephone Nigam (MTNL) declined 1.62% to Rs 43.60 after the company's consolidated net loss increased to Rs 890.28 crore in Q2 FY25 from net loss of Rs 792.82 crore posted in Q2 FY24.

Revenue from operations declined 11.93% YoY to Rs 174.23 crore in the quarter ended 30 September 2024.

Total expenses jumped 4.44% YoY to Rs 1,217.56 crore in September 2024 quarter. License fees and spectrum charges stood at Rs 17.16 crore (down 10.62% YoY) while employee benefit expense was at Rs 145.96 crore (down 1.44% YoY) and finance cost stood at Rs 769.48 crore (up 15.69% YoY) during the period under review.

On the margins front, the company reported negative operating margin of 156.75% in Q2 FY25 as compared with negative 152.55% recorded in Q2 FY24.

The PSU firm also reported a negative net profit margin of 510.99% in Q2 FY25 as against negative 400.77% registered in similar quarter previous fiscal.

Mahanagar Telephone Nigam is engaged in providing telecom services in the geographical area of Mumbai and Delhi. As on September 2024, Government of India held 56.25% in the company.

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