Page 4 - Mtnl

Govt likely to pay bond interest dues of MTNL, assuring no default

The government will pay the bond dues of ailing Mahanagar Telephone Nigam Ltd (MTNL), a DoT source said assuring that there will be no default, and that the amount will be paid before the due date of July 20. The move assumes significance as it would avert a looming crisis for the telecom corporation which is being seen teetering on the brink with regard to its debt obligations that are becoming due. All eyes are on MTNL, ever since the debt-laden firm last week expressed its inability to make interest payments to certain bondholders due to paucity of funds. Telecom Department sources said that the government will step in and pay the said dues, and asserted that there won't be any default on the same. In this particular case, where the second semi-annual interest (7.59 per cent) on certain bonds is falling due on July 20, 2024, DoT sources said that "the dues will be paid before the date". Amid mounting financial woes, MTNL last week informed in a statutory filing that it is unable

Govt considers handing over MTNL operations to BSNL; merger unlikely

The government is considering the option of handing over operations of Mahanagar Telephone Nigam Ltd (MTNL) to BSNL through an agreement, instead of pursuing a merger route, a source privy to the development said. A final call on this is likely to be taken in a month's time. The source said the option of handing over debt-laden MTNL's operations to Bharat Sanchar Nigam Ltd (BSNL) through an agreement is being looked into. The source said that given MTNL's high debt, a merger with BSNL was not a favourable option. Once the decision is taken, the proposal would be placed before the Committee of Secretaries, and thereafter taken to the Cabinet. Amid mounting financial woes, MTNL this week informed in a statutory filing that it is unable to make interest payment to certain bondholders "due to insufficient funds". "The second semi annual interest with regard to 7.59 per cent MTNL's bond series...is due on July 20, 2024. As per the structured payment mechanism of Tripartite agreement (T

MTNL drops over 2% after Q4 net loss widens; down 12% in three months

MTNL's net loss widened to Rs 783.7 crore on a year-on-year (Y-o-Y) basis, from a net loss of Rs 748.6 crore in the fourth quarter of financial year 2023 (Q4FY23)

Stocks to watch on May 30: Tata Steel, Awfis Space Solutions, Cummins India

Stocks to watch on May 30: Cummins India reported a 54.4 per cent spike YoY in net profit to Rs 538.9 crore in Q4FY24 on a consolidated basis compared to Rs 348.9 crore in the corresponding quarter

MTNL Q4 results: Net loss widens to Rs 817 cr on high finance costs

State-run telecom company MTNL has reported widening of losses to Rs 817.58 crore in the fourth quarter ended March 31, 2024, mainly on account of high finance costs, according to a regulatory filing. The company had recorded a loss of Rs 745.78 crore in the same period a year ago. The finance cost of the loss-making telecom PSU increased to Rs 688.93 crore from Rs 640.91 crore a year ago. The revenue from operations of MTNL fell by about 5 per cent to Rs 192.66 crore during the reported quarter from Rs 202.35 in March 2023 quarter. MTNL's revenue from basic telephone operations comprising landline broadband services fell by 2 per cent to Rs 184.78 crore during March 2024 quarter from Rs 188.68 crore in the corresponding quarter a year ago. The company's revenue from cellular services fell by about 42 per cent to Rs 8.16 crore during the reported quarter from Rs 14 crore in March 2023 quarter. The maintenance and running of MTNL wireless network has been handed over to BSNL as an

DoT identifies property assets of BSNL and MTNL for 'outright sale'

The government has listed over 100 properties of MTNL for outright sale through an auction process

BSNL installs 3,500 4G towers in 5 northern states: CMD Pravin Kumar Purwar

Tower installations to begin in Tamil Nadu and Madhya Pradesh soon

4G launch in next 3-4 months once tower count hits 20,000: BSNL CMD

The company has mapped out large parts of these states for tower installation. This includes more than 4,200 4G sites in Andhra Pradesh and Telangana

MTNL to seek shareholders' nod to raise Rs 3,126 cr through bond

In 2022, the cabinet approved a second revival package for Bharat Sanchar Nigam Limited (BSNL) and MTNL amounting to Rs 1.64 trillion

Loss-making telcos BSNL, MTNL sign MoU for synergy of operations

Loss-making state-run telecom firms BSNL and MTNL have signed a memorandum of understanding that will pave the way for synergy of operations between them, MTNL said in a regulatory filing. BSNL has already taken over mobile service operations from MTNL. "We would like to inform you that MTNL has inked a MoU with Bharat Sanchar Nigam Limited on Thursday, August 31, 2023," MTNL said. The government has in the last four years approved Rs 3,23,047 crore financial support for the revival of the public sector telecom firms and an additional Rs 1.39 lakh crore BharatNet project which is handled by Bharat Broadband Network Limited. "The MoU with BSNL will pave the way for synergy of operations between MTNL and BSNL in order to provide pan India telecom services as a public sector enterprise under the government of India," the filing said.

MTNL, BSNL subscribers dropped due to lack of full-scale 4G: Centre

Government-owned telecom service providers MTNL and BSNL have seen a decline in the number of subscribers in the past three years because of "stiff competition" in the sector as well as lack of 4G services on a full scale, Parliament was informed on Wednesday. Minister of State for Communications Devusinh Chauhan in a written reply to the Lok Sabha said following a financial relief package from the Centre, BSNL and MTNL have been operationally profitable since 2020-21. "The reasons for decline in subscribers are lack of 4G services on a full scale and stiff competition in the telecom sector. In line with Atmanirbhar initiative of the government, BSNL has issued purchase orders for one lakh sites to roll out 4G services all over India in the next 18-24 months," Chauhan said. MTNL had 32.96 lakh subscribers for its wireless services in 2021, which declined 29 per cent to 23.5 lakh subscribers as of March 2023, according to the reply. BSNL also saw its subscriber count declining 12.6

Trai repeals regulation on quality of dial-up and leased internet service

The regulation covered all basic services operators and internet service providers which included BSNL, MTNL, and VSNL

VRS for staff may be only option for loss-making MTNL if it shuts: Execs

The govt-owned telecom has been making losses for all but one of the past 14 years, and has run up a debt of a staggering Rs 23,500 crore

As MTNL fails to turn profitable, govt may shift ops to BSNL, says report

This is a departure from the govt's earlier plan of merging the two entities

Nearly 2 mn mobile connections added in March, highest in nine months

Growth seen in both rural and urban areas with greater concentration in the latter

Govt asks BSNL and MTNL to identify low-value assets for monetisation

According to a report, the govt has asked these firms to identify core and non-core assets with a value of up to Rs 10 crore that can be monetised

Delhi HC orders MTNL to deposit Rs 442 cr in connection with arbitral award

For 30 years, a dispute between MTNL and CanFina was going through several rounds of litigation, which is in stark contrast to the apex court push for expeditious disposal of arbitration matters

Stocks to watch: Nestle India, NTPC, HAL, Bharat Dynamics, MTNL, BEL

Stocks to watch today: Nestle India, and Schaeffler India will report the October-December quarter (Q3FY23) results on Thursday, February 16.

MTNL's consolidated loss widens to Rs 775.5 crore in December quarter

State-owned MTNL on Wednesday posted a widening of consolidated loss at Rs 775.5 crore in the third quarter ended on December 31, 2022. The company had posted a loss of Rs 659.28 crore in the year-ago period. The consolidated revenue from operations of MTNL dropped by 25 per cent to Rs 227.41 crore during the quarter under review from Rs 303.56 crore in the December 2021 quarter. The finance cost of the company increased by 7 per cent to Rs 592.24 crore in the October-December 2022 quarter as against Rs 552.43 crore in the corresponding quarter of 2021.

Govt to try merging BSNL & MTNL again, appoints Deloitte as advisor: Report

Given the complexity involved in the merger, it will take about two years to complete the whole process