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MTNL losses narrows to Rs 730.44 crore at the end of Q2FY16

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State-run telco MTNL losses narrowed, although marginally, in the quarter ended September 30, 2015 (Q2FY16). The company posted a net loss of Rs 730.44 crore at the end of the quarter. Net loss in the same quarter last year was 834.22 crore and losses stood at Rs 744.97 crore in the preceding quarter.

However, total operational revenue for MTNL dipped 7.29% to Rs 783.68 crore for the quarter, from Rs 845.26 crore in the same quarter last year.

Basic Services: Revenues from Basic (Fixed line and Broadband) services continues to dominate MTNL’s revenues, with the segment reporting revenues of Rs 630.35 crore for the quarter, down 5.81% from Rs 669.34 crore in the same quarter last year, and down 1.61% from Rs 640.78 crore in the last sequential quarter.

The loss before tax for the segment decreased to Rs 290.23 crore for the quarter, from Rs 317.39 crore loss in the same quarter last year.

Basic services contributed for 79.87% of MTNL’s net income for the quarter, as compared to 78.68% contribution in the same quarter last year.

Cellular Services: Revenues from Cellular services declined to Rs 158.38 crore for the quarter, down 14.63% from Rs 185.53 crore in the same quarter last year.

The loss before tax decreased to Rs 117.55 crore for the quarter, from Rs 119.68 crore in the same quarter last year.

Cellular services accounted for 20.1% of MTNL’s net income for the quarter, as compared to 21.81% in the previous quarter.

Other developments

– Earlier in September, it was reported that MTNL and BSNL would merge and start functioning as a single new entity from the next financial year. The name of the proposed new entity would be declared soon by the Government, while the merger would happen by the end of December.

Download: Financials

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