MTNL swings to loss in fourth quarter of FY17
MTNL posted Rs634.8 crore loss in the fourth quarter of FY17 a net profit of Rs188.64 crore in the fourth quarter of FY16
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New Delhi: State-run telecom firm Mahanagar Telephone Nigam Ltd (MTNL) on Tuesday posted a net loss of Rs634.8 crore for the quarter ended on 31 March 2017. The company had posted net profit of Rs188.64 crore in the fourth quarter of FY16.
The revenue from operations declined by about 3% to Rs963.12 crore during the reported quarter from Rs992.65 crore in the same period a year ago.
For the year ended March 2017, MTNL’s net loss widened to Rs2,963.05 crore from Rs1,945.86 crore at the end of the previous fiscal. The annual income of MTNL also declined by 3.6% to Rs3,654.69 crore for 2016-17 from Rs3,793.89 crore at the end of 2015-16.
Shares of MTNL closed at Rs21.25 a unit, down by 1.39% compared to previous close at BSE on Tuesday.