MTNL reports Rs595-cr Q4 net loss
01 June 2015
State-run telecom firm Mahanagar Telephone Nigam Limited (MTNL) has reported a standalone net loss of Rs595.11 crore for the quarter ended 31 March 2015, despite an increase in income from operations.
MTNL had reported a net profit of Rs9,600.34 crore in the year-ago period (January-March 2014) on account of an exceptional income of Rs10,216.05 crore during the quarter.
However, the January-March 2015 quarter saw an increase in expenses instead, which pushed down profits.
The state-run teleco reported a higher income from operations of Rs876.42 crore during January-March quarter of 2014-15 fiscal against Rs841.73 crore in the corresponding period of the previous year, the company said in a filing with the Bombay Stock Exchange (BSE).
MTNL's total expenses increased sharply to Rs1,418.62 crore during the fourth quarter of last fiscal from Rs759.80 crore in the similar quarter in the 2013-14 fiscal.
For the entire 2014-15 fiscal, MTNL posted a net loss of Rs2,893.39 crore against a net profit of Rs7,825.13 in the previous year.
Income from operations for the 2014-15 financial year rose slightly to Rs3,400.08 crore from Rs3,391.73 crore in the previous financial year.