MTNL narrows losses in the last three months of 2010

14 Feb 2011

State-owned Indian operator Mahanagar Nigam Telephone Limited (MTNL) has revealed that its net loss in the third quarter of its 2010/11 financial year had narrowed to INR6.71 billion (USD145 million), from INR9.19 billion in the same period a year earlier. For the three months ended 31 December 2010 MTNL generated turnover of INR9.23 billion, up from INR9.15 billion in 3Q09/10, with increased uptake of broadband services helping offset declines in revenues from mobile services, which have been dented as a result of hyper-competition in the sector.

At the end of December 2010 MTNL’s mobile subscriber base had increased to 5.12 million, up 32.2% year-on-year, while the number of customers to have signed up for the operator’s broadband services stood at 913,708, representing an almost 19% annual increase.

India, Mahanagar Telephone Nigam Limited (MTNL)