MTNL silps after Q3 net loss widens further to Rs 839 cr

Mahanagar Telephone Nigam (MTNL) declined 7.24% to Rs 40.08 as the company reported consolidated net loss of Rs 839.03 crore in Q3 FY24 as compared with net loss of Rs 775.50 crore in Q3 FY23.

Net sales declined 15.46% to Rs 192.24 crore in Q3 FY24 as against Rs 227.41 crore in Q3 FY23.

Total expense jumped 3.94% year on year to Rs 1,174.79 crore in Q3 FY24. License fees and spectrum charges stood at Rs 16.39 crore (down 24.71% YoY) while employee benefit expense was at Rs 153.76 crore (up 18.44% YoY) and finance cost stood at Rs 690.57 crore (up 16.60% YoY) during the period under review.

 

Mahanagar Telephone Nigam is engaged in providing telecom services in the geographical area of Mumbai and Delhi.

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