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MTNL net loss widens to Rs 1,182 crore

State-run MTNL on Thursday reported a 27.14 percent increase in its standalone net loss at Rs 1,182.1 crore for the quarter ended December 31, 2012.



Mumbai: State-run MTNL on Thursday reported a 27.14 percent increase in its standalone net loss at Rs 1,182.1 crore for the quarter ended December 31, 2012.

The company had reported a net loss of Rs 929.7 crore in the corresponding quarter last financial year.

The total income from operations was also down 1.99 percent to Rs 835 crore for the reported quarter as compared to Rs 852 crore in the same period last year, the company said in a filing to the BSE.

During the quarter, MTNL's revenues from basic services stood at Rs 668.9 crore, while those from cellular services was at Rs 172.9 crore, the filing said.

Employee remuneration and benefit costs stood at around Rs 1,025.2 crore during the quarter ending December 31, 2012 compared to about Rs 823.2 crore in the same quarter last year.

The company's administrative and operative expenditure decreased to Rs 184.2 crore from Rs 196 crore in the corresponding quarter of the previous year.

Shares of MTNL today closed at Rs 22.70 apiece on the BSE, down 2.37 percent from their previous close.

PTI

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