MTNL posts Rs703 crore loss in first quarter
MTNL posts a net loss of Rs703.17 crore for the quarter ended 30 June, as against Rs718.02 crore loss in the same period of 2016
New Delhi: State-run telecom firm MTNL on Monday posted a net loss of Rs703.17 crore for the quarter ended 30 June, as against that of Rs718.02 crore in the same period of 2016.
Total income of the public sector firm declined to Rs812.66 crore in the reported quarter from Rs881.93 crore in the corresponding quarter of 2016-17.
Its total expenses were at Rs1,515.83 crore in the quarter under review against that of Rs1,599.94 crore in the year-ago period.
Its expenses related to employee remunerations and benefit stood at Rs608.22 crore against Rs681.91 crore in the year-ago quarter.
The finance cost of the debt-ridden public firm too increased by 3.6% to Rs358.36 crore from Rs345.88 crore during the period under review.
MTNL provides telecom services in Delhi and Mumbai.
Shares of MTNL closed at Rs17.95 a unit, up by 4.06% compared to previous close, at the BSE.
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