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MTNL Q1 losses mount to Rs 9.43 bn, expenses increase to Rs 15.5 bn

MTNL scrip closed at Rs 15.45 a share on BSE, about 0.64 per cent lower than the previous closing

Press Trust of India  |  New Delhi 

MTNL

State-owned Nigam Ltd (MTNL) on Tuesday reported widening of losses for the ended June 30, 2018 to Rs 9.43 billion.

The losses stood at Rs 7.03 billion in the corresponding period of 2017-18, according to MTNL's regulatory filing.

A household telephony brand in the 90s and early 2000, MTNL's revenue and profitability have come under tremendous pressure with intensified competition in mobile and landline telephony services.

The PSU which operates in the service areas of Mumbai and Delhi garnered Rs 4.92 billion in revenue from operations during June quarter, 25 per cent lower than Rs 6.57 billion notched in the year-ago period.

At Rs 15.51 billion, its expenses for the were a tad higher compared to the year-ago period.

scrip closed at Rs 15.45 a share on BSE, about 0.64 per cent lower than the previous closing.

First Published: Tue, August 14 2018. 21:38 IST
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