MTNL posts Rs 703 crore loss for April-June quarter

Business

The finance cost of the debt ridden public firm too increased by 3.6% to Rs 358.36 crore from Rs 345.88 crore during the period under review.

State-run telecom firm MTNL posted a net loss of Rs 703.17 crore on Monday for the April-June quarter against that of Rs 718.02 crore in the same period of last year.

Total income of the public sector firm declined to Rs 812.66 crore in the reported quarter from Rs 881.93 crore in the corresponding quarter of 2016-17.

Its total expenses were at Rs 1,515.83 crore in the quarter under review against that of 1,599.94 crore in the year-ago period. Its expenses related to employees remunerations and benefit stood at Rs 608.22 crore against rs 681.91 crore in the year-ago quarter.

The finance cost of the debt ridden public firm too increased by 3.6% to Rs 358.36 crore from Rs 345.88 crore during the period under review.

MTNL provides telecom services in Delhi and Mumbai.

Shares of MTNL closed at Rs 17.95 a unit, up by 4.06% compared to previous close, at the BSE on Monday.

 

 

[source=hindustantimes]

Written by Loknath Das