State run telco MTNL has reported yet another quarter of losses: Rs 595.11 crore loss for the quarter ended March 31, 2015, however it was down 18.57% from Rs 730.83 crore loss in the previous quarter.
The same quarter last year, however, MTNL reported a profit of Rs 9600.34 crore on account of government’s pension benefits. Without this exceptional item, the company would’ve posted a loss of Rs 118.5 crore for that quarter.
The total operational revenue for the telco stood at Rs 876.42 crore for this quarter, up 7.28% from Rs 816.92 crore last quarter and 4.12% from Rs 841.73 crore the corresponding quarter last year.
Basic services: Revenues from Basic (Fixed line) services continue to dominate MTNL’s revenues, with the segment reporting revenues of Rs 688.05 crore for the quarter, up 7.64% from Rs 639.20 crore last quarter and 3.66% from 663.76 crore same quarter last year.
The loss before tax from basic services stood at 69.78 crore for this quarter, down 74.04% from Rs 268.83 crore last quarter. The same quarter last year, MTNL reported a profit of Rs 5303.67 crore due to the previously mentioned government’s pension benefits.
Cellular Services: Revenues from Cellular services declined slightly this quarter to Rs 180.04 crore, down 0.45% from 180.87 crore in the previous quarter and down 1.19% from Rs 182.22 crore in the corresponding quarter last year.
However, the loss before tax for cellular services increased to Rs 105.65 crore for the quarter, up 2.34% from Rs 103.23 crore in the previous quarter. The same quarter last year, this division reported a profit of Rs 256.64 crore.
FY15 results: The total revenue was at Rs 3,400.08 crore for the year, up 0.25% from Rs 3,391.73 crore in the previous year.
MTNL to go on: MTNL was among the five public sector undertakings (PSUs) the government planned to shut down, heavy industries minister Anant Geete had said during Question Hour in the Lok Sabha, adding that its employees were being offered a “very good” VRS package, in March this year. However, union minister for communications and information technology Ravi Shankar Prasad later clarified saying the government did not plan to shut down the loss-making operator, and would instead take various measures to revive it.
Download: Financials (pdf)
Image source: MTNL