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MTNL’s losses narrow to Rs 704.93 crore at the end of Q3FY16

mtnl

State-run telco MTNL losses narrowed in the quarter ended December 31st, 2015 (Q3FY16). The company posted a net loss of Rs 704.93 crore at the end of the quarter. Net loss in the same quarter last year was Rs 730.83 crore while losses stood at Rs 730.44 crore in the preceding quarter.

However, total operational revenue for MTNL dipped 5.77% to Rs 766.98 crore for the quarter, from Rs 813.92 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 612.29 crore for the quarter, down 4.2% from Rs 639.2 crore in the same quarter last year, and down 2.86% from Rs 630.35 crore in the last sequential quarter.

The loss before tax for the segment decreased to Rs 238.49 crore for the quarter, from Rs 268.83 crore loss in the same quarter last year.

Basic services contributed for 79.83% of MTNL’s net income for the quarter, as compared to 78.5% contribution in the same quarter last year.

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Cellular Services: Revenues from Cellular services declined to Rs 160.65 crore for the quarter, down 11.18% from Rs 180.87 crore in the same quarter last year.

The loss before tax increased to Rs 117.58 crore for the quarter, from Rs 103.23 crore in the same quarter last year.

Cellular services accounted for 20.95% of MTNL’s net income for the quarter, as compared to 22.22% in the same quarter last year.

Other developments:

– In September last year, 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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