MTNL Q3 loss narrows to Rs 730.83 crore

NEW DELHI: Mahanagar Telephone Nigam Limited (MTNL), which provides services in Delhi and Mumbai,  has reported a net loss of Rs 730.83 crore for the third quarter ended December 31, 2014.

The telco had reported a net loss of Rs 834.22 crore for the quarter ended September 30, 2014-15 and  had also recorded a loss of Rs.733.23 crore in the first quarter (April-June) of 2014-15.

The company had reported a net profit of Rs 428.03 crore in the corresponding quarter last fiscal, MTNL said in a filing to the Bombay Stock Exchange (BSE).

It reported a net profit for the same quarter last year mainly on account of exceptional income of Rs 1,404.88 crore.

The total income declined by over 4% and stood at Rs 816.92 crore for the third quarter ended December against Rs 853.39 crore in the same quarter previous year.

The employee costs for the company stood at Rs 628.67 crore while licence fees and spectrum charges amounted to Rs 61.35 crore for the third quarter.

The company broadband subscribers  stood at  11.83 lakh at the end of December 31, 2014.

It has deployed adequate capacity for mobile and broadband connections to meet the demand