MTNL Jun qtr loss widens 24% to over Rs 1,059 cr
MTNL Tuesday said its net loss widened 24 percent to Rs 1,059.28 crore for the quarter ended June 30, 2012 compared to Rs 850.04 crore in the corresponding period last fiscal.
New Delhi: State-run MTNL Tuesday said its net loss widened 24 percent to Rs 1,059.28 crore for the quarter ended June 30, 2012 compared to Rs 850.04 crore in the corresponding period last fiscal.
The total income from operations, however, rose by around two percent to Rs 833 crore in the reported quarter compared to 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, it said in a statement.
Employee remuneration and benefit costs stood at around Rs 979 crore during the first quarter ending June 30, compared to Rs 847 crore in the same quarter last year.
The company's administrative and operative expenditure increased to Rs 171.15 crore in April-June from Rs 150.86 crore in the corresponding quarter of previous year. This partly reflects increased expenditure on fuel and maintenance costs, the statement added.
During the quarter, MTNL added 22,559 new broadband customers, taking its user base to 10,62,750 users, it added.
MTNL has over nine million mobile and wireline subscribers and offers services in two circles -- Delhi and Mumbai.
The company has decided to offer voluntary retirement scheme (VRS) to about 20,000 employees as part of its efforts to turn profitable.
MTNL shares closed at Rs 33.25 apiece on the BSE, down 0.75 percent from their previous close.