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Mahanagar Telephone Nigam Ltd’s net loss widened 24 per cent to Rs 1,059.28 crore for the first quarter ended June 30, 2012 compared with Rs 850.04 crore in the corresponding period last fiscal. Its losses were at Rs 1,374.4 crore in the sequentially previous quarter.
The total income from operations, however, rose by around two per cent to Rs 833 crore in the quarter compared with Rs 813.18 crore in the April-June quarter of 2011. During the quarter, MTNL's revenues from basic services stood at Rs 653.28 crore, while those from cellular services was Rs 183.34 crore. Employee remuneration and benefit costs stood at around Rs 979 crore (Rs 847 crore) during the quarter. The company's administrative and operative expenditure increased to Rs 171.15 crore from Rs 150.86 crore MTNL shares closed at Rs 33.25 on the BSE, down 0.75 per cent from its previous close.
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