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MTNL reports net loss of Rs 730.64 crore as total revenues decline 9.17% YoY

Government-owned telecom operator MTNL reported losses of Rs 730.64 crore for the quarter ended September 2017 (Q2FY18). Losses expanded from Rs 703.17 crore in the preceding quarter, however, on a year-on-year basis losses declined from Rs 768.32 crore in the same quarter last year.

MTNL has been posting continues losses with a quarterly decline in income, especially after the launch of Reliance Jio’s unlimited calling and data offers.

  • Total income continued to decline and stood at Rs 791.9 crore, down 2.65% sequentially from Rs 812.66 crore. Total income declined by 9.17% from Rs 870.98 crore on a year-on-year basis.
  • Operating income stood at Rs 642.23 crore compared to Rs 657.22 crore in the preceding quarter and Rs 720.2 crore. This represented a decline of 2.28% QoQ and 10.82% YoY.

The government 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 roadmap for MTNL.

Segment revenues

Basic (Fixed line and Broadband) revenue stood at Rs 549.54 crore, a decline of 1.28% QoQ from Rs 556.67 crore in Q2FY18. The segment posted losses of Rs 288.4 crore in the quarter which increased from Rs 296.27 crore in the preceding quarter.

Cellular segment revenue stood at Rs 94.12 crore, a 7.6% decline from Rs 101.87 crore in the previous quarter. On a YoY basis, cellular revenues declined by 26.35%% from Rs 127.81 crore in Q2FY17. The cellular segment posted losses of Rs 117.40 crore compared to Rs 127.01 crore.

CCTV surveillance system

MTNL said that it was awarded a contract by Larsen & Tourbo for setting up for design, development, implementation, and maintenance of a CCTV surveillance system in Mumbai. The company added that the project would be completed in four phases and that it has completed phase 1 and phase 2.

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Monetization of land and other assets

In February 2017, the Ministry of Communications informed the Lok Sabha that MTNL is exploring options to monetize its assets which may contribute to additional revenue. The company had a total asset base of Rs 17,656.35 at that time. It was also looking to create a “managed service model (in partnership) with BSNL for its mobile network.”

Download: Financials 

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