Info-tech

MTNL loss widens to Rs 1,256 cr for April-June quarter

PTI New Delhi | Updated on March 12, 2018 Published on August 13, 2013

State-run MTNL today reported widening of its standalone net loss to Rs 1,256.1 crore for the quarter ended June 30, 2013 on higher expenses and finance costs. The company had reported a net loss of Rs 1,059.2 crore for the corresponding period last financial year.

Total income from operations also rose marginally to Rs 883.1 crore for the reported quarter as compared to Rs 833 crore for the same period last year, the company said in a filing to the BSE.

Total expenses in June 2013 quarter rose to Rs 1,870.13 crore as against Rs 1,707.30 crore in the same period a year ago.

MTNL employees cost increased to Rs 1,156.36 crore during the reported quarter as compared to Rs 979.41 crore in the same period last year.

The company paid Rs 65.1 crore as licence fees and spectrum charges during the quarter compared to Rs 72.58 crore in the year ago period.

The company’s finance costs went up to Rs 320.67 crore in the quarter under review compared to Rs 272.72 crore a year ago.

A Group of Ministers is looking at ways to revive the telco and during its recent meeting, the broad contours of its pension liabilities had been decided upon.

A final decision, however, will be taken after the government signs an agreement with the employees union.

The Department of Telecommunications (DoT) is believed to be in favour of a lumpsum payment of around Rs 5,925 crore as pension benefits to the MTNL staff.

Published on August 13, 2013
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