MTNL quarterly net loss widens to USD114m

15 Dec 2016

State-backed operator Mahanagar Telephone Nigam Ltd (MTNL) has reported a net loss of INR7.683 billion (USD114.02 million) for the three months ended 30 September 2016, widening from INR7.180 billion three months earlier and INR7.304 billion in the corresponding period of 2015. The development reverses several periods of gradual improvement for the operator, during which marginal increases in turnover combined with slowly falling costs and expenses had narrowed the operator’s quarterly net losses. During the period under review, however, MTNL registered declines in turnover from both fixed line and mobile services – which fell by 21.6% and 6.4% quarter-on-quarter respectively to INR5.737 billion and INR1.278 billion – whilst expenses grew from INR12.541 billion to INR12.803 billion over the same period. The operator’s expenses included INR6.990 billion in employee benefits and INR656.1 million in licence fees and spectrum charges.

India, Mahanagar Telephone Nigam Limited (MTNL)