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MTNL posts net profit of Rs 174.58 crore after surrendering CDMA spectrum

State-run telecom operator MTNL has posted a net profit of Rs 174.58 crore after surrendering 800 Mhz of CDMA spectrum for Rs 428.95 crore in March. MTNL has been in a continuous streak of losses since Q1 FY15. In the preceding quarter, MTNL reported a loss of Rs 704.93 crore and a loss of Rs 595.11 crore in the same quarter last year. However, total operational revenue for MTNL decreased 4.26% to Rs 835.79 crore for the quarter, from Rs 873.01 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 675.63 crore for the quarter, down marginally 1.8% from Rs 688.05 crore in the same quarter last year, and up 10.35% from Rs 612.29 crore in the last sequential quarter. The loss before tax for the segment decreased to Rs 196 crore for the quarter, from Rs 238.49 crore loss in the preceding quarter. Basic services contributed for 80.69% of MTNL’s net income for the quarter, as compared to 79.83% contribution in the preceding quarter. Cellular Services: Revenues from Cellular services declined to Rs 160.65 crore for the quarter, down 10.18% from Rs 180.04 crore in the same quarter last year. The segment reported a profit before tax of Rs 229.57 crore for the quarter,  compared to the loss of Rs 105.65 crore in the same quarter last year. Cellular services accounted for 19.31% of MTNL’s net income for the quarter, as compared to 20.48% in the same quarter last year. Other developments -…

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