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MTNL continues to post loss in Q1FY17 after a brief break in the last quarter

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State-run telecom and Internet provider MTNL has reported a net loss of Rs 781.02 for the quarter ended June 30 (Q1 FY17). In the preceding quarter the company 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 same quarter last year, MTNL reported a loss of Rs 734.24 crore.

However, total operational revenue for the company decreased 4.57% to Rs 744.42 crore for the quarter, from Rs 780.12 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 612.74 crore for the quarter, down 5.51% from Rs 648.48 crore in the same quarter last year, and down 9.3% from Rs 675.63  crore in the last sequential quarter.

The loss before tax for the segment decreased marginally to Rs 312.05 crore for the quarter, from Rs 313.98 crore loss in the same quarter last year.

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Basic services contributed for 82.3% of MTNL’s net income for the quarter, as compared to 80.69% contribution in the preceding quarter.

Cellular Services: Revenues from Cellular services declined to Rs 163.01 crore for the quarter, down 2.17% from Rs 166.33 crore in the same quarter last year.

The segment reported a loss before tax of Rs 116.9 crore for the quarter,  compared to the loss of Rs 128.45 crore in the same quarter last year.

Cellular services accounted for 21.9% of MTNL’s net income for the quarter, as compared to 19.31% in the same quarter last year.

Other developments

– PK Purwar, who was made in charge as MTNL Chairman & Managing Director in June, would continue in the same responsibility for 3 more months. MTNL has not had a full time CMD since May 2014 and is currently looking for one, according to the report. It has formed a committee in order to appoint a CMD on a deputation period of 5 years.

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– In July, MTNL blocked a part of its broadband network that allows sending of emails through private email servers after ISPs in Mumbai came under a heavy DDoS attack, crippling internet speeds in the city. MTNL had blocked ‘Port 25’ used for sending emails on private servers, which essentially stopped spammers and hackers from sending out bulk emails in a network using hijacked PCs.

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