MTNL Q2 Results: State-Run Telco Posts Net Loss Of Rs 890 Crore
MTNL's revenue from operations came in Rs 174.23 crore during the September quarter, down 5.2% sequentially.
Mahanagar Telephone Nigam Ltd. recorded a consolidated net loss of Rs 890.28 crore in the quarter ended Sept. 30, as compared to a loss of Rs 773.46 crore in the preceding three-month period ended June 30, as per the financial results declared by the state-run telecom firm on Thursday.
MTNL's revenue from operations came in Rs 174.23 crore during the quarter under review, down 5.2% from Rs 183.85 crore in the April-June period.
The company's earnings before interest, taxes, depreciation and amortisation stood in the negative, as it posted an Ebitda loss of Rs 119.29 crore in the July-September period. In comparison, it recorded an Ebitda loss of Rs 110.93 crore reported in quarter ended June 30.
MTNL Q2 Highlights (Consolidated, QoQ)
Revenue down 5.2% to Rs 174.23 crore versus Rs 183.85 crore.
Net loss at Rs 890.28 crore versus loss of Rs 773.46 crore.
Ebitda loss at Rs 119.29 crore versus loss of Rs 110.93 crore.
During the September quarter, MTNL received its board nod to enter into a 10-year service agreement with the Bharat Sanchar Nigam Ltd. as vetted by the Ministry of Corporate Affairs. The approval was granted on Aug. 14. On the same date, MTNL's board also cleared a proposal for closure of Millennium Telecom Ltd., a wholly owned subsidiary of the company.
Shares of MTNL on Thursday closed 0.68% higher at Rs 44.33 apiece on the National Stock Exchange, compared to a 0.11% decline in the benchmark Nifty 50. The share price has risen by 57.2% in the last 12 months and fell by 31.74% on a year-to-date basis.
