Info-tech

MTNL’s loss narrows to ₹624 cr in March quarter

PTI New Delhi | Updated on July 27, 2020 Published on July 27, 2020

Mahanagar Telephone Nigam Ltd scheme, based on Gujarat Model of VRS, will be open for employees till December 3, 2019. File Photo   -  The Hindu

State-owned telecom firm MTNL on Monday reported narrowing of its standalone loss to ₹ 623.63 crore for the fourth quarter ended March 31, 2020, mainly on account of a reduction in headcount under the voluntary retirement scheme.

The company had posted a loss of ₹759.27 crore in the corresponding period a year ago.

During the quarter, 14,387 employees of MTNL opted for the voluntary retirement scheme.

MTNL’s total income declined 26.77 per cent to ₹518.79 crore in January-March 2020, compared with ₹708.5 crore in the year-ago period.

For the full financial year 2019-20, the firm’s losses widened to ₹3,693.72 crore as compared with ₹3,388.07 crore it recorded at the end of the previous financial year.

The company’s annual revenue during the financial year 2019-20 also dipped about 15 per cent to ₹2,316.58 crore, against ₹2,721.5 crore in 2018-19.

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Published on July 27, 2020
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