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MTNL losses narrowed to ₹703Cr in Q4FY17; Cellular segment losses at ₹127Cr

State-owned telecom operator MTNL has reported a net loss of Rs 703.17 crore for the quarter ended June 2017 (Q1-FY17). Losses increased from Rs 634.8 crore in the preceding quarter. In the same quarter last year, MTNL had made a loss of Rs 718.02 crore. The company has been posting continues losses with a quarterly decline in income, especially after the launch of Reliance Jio’s unlimited calling and data offers. The govt had earlier considered merging BSNL and MTNL in Lok Sabha in March this year to save the company from a possible shutdown. But the proposal now stands nullified: In a Lok Sabha reply this month, Minister of Communications Manoj Sinha said that “there is no proposal for merger of BSNL and MTNL”. The DoT instead classified MTNL as a ‘weak central public sector enterprise’ and has initiated revival/restructuring/closure road map for MTNL. Some highlights…

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