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MTNL revenues at Rs 856.02 Cr for Q1-FY15; Loss at Rs 733.2 Cr

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State run telco MTNL has posted yet another loss making quarter: a loss of Rs 733.2 crore for the quarter ended June 30, 2014 as compared to Rs 1,256.2 crore loss in the same quarter last year.

It’s worth noting that the telco had posted a profit of Rs 9,600 crore in the previous quarter, but that was primarily due to government’s pension benefits and other exceptional items totalling Rs 10,216.1 crore. MTNL had also written back provision worth Rs 1,254.2 crore made for employee retirement benefits following a government’s order, which had significantly helped the profits for that quarter.

The total operational revenue for MTNL saw a marginal quarterly growth to Rs 856.02 crore for the quarter, up 1.7% from Rs 841.7 crore revenues in the previous quarter but down 3.1% from Rs 883.16 crore in the same quarter last year.

Basic Services: MTNL continues to generate majority of its revenues from Basic (Fixed line) services, which posted revenues of Rs 670.5 crore for the quarter, up from Rs 663.8 crore in the previous quarter but down from Rs 674.1 crore in the same quarter last year.

The loss before tax was at Rs 318.3 crore for the quarter, as compared to a profit of Rs 5,303.7 crore in the previous quarter and a loss of Rs 752.2 crore in the same quarter last year.

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Basic services accounted for 78% of MTNL’s net income for the quarter, down from 78.5% contribution in the previous quarter.

Cellular Services: Revenue from Cellular services grew to Rs 189.1 crore for the quarter, up 3.8% from Rs 182.2 crore in the previous quarter but down 12.2% from Rs 215.4 crore in the same quarter last year.

The loss before tax was at Rs 111.3 crore for the quarter, as compared to a profit of Rs 256.6 crore in the previous quarter and a loss of Rs 123.04 crore in the same quarter last year.

Cellular services accounted for 22% of MTNL’s net income for the quarter, up from 21.5% in the previous quarter.

New CMD: During the quarter, P K Purwar was appointed as the chairman and managing director of MTNL. This was after AK Garg retired from the company in June this year. Purwar was previously the Director (Finance) at MTNL.

Earlier this month, Minister of Communications and Information Technology Ravi Shankar Prasad had told Rajya Sabha that the other state-run telco BSNL had posted a loss of Rs 7,085 crore for FY14. This was BSNL’s fifth straight loss making fiscal. More on that and BSNL’s landline business financials here.

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