MTNL Registers Losses of Rs 900 Crore in December-March Quarter

MTNL’s financial woes seem to take a nosedive as the company has released the numbers for the quarter ended March 31, 2018. The state-owned telco has registered huge losses to touch the figure of Rs 900 crore in the last quarter that ended March 2018. To give a bird’s eye of how serious of a problem it is for MTNL, it is necessary to know that in the same period of January to March in last year, the telco’s losses were pegged at Rs 634.8 crore. The state-owned telco after the coming of telecom operators like Reliance Jio and other ever-present competition has received a severe blow. As a result, the telco has been making huge losses over losses, and the financial numbers tell the same story. Below is the data for the company’s financials point towards a sinking ship of revenue which best describes MTNL’s position now.

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mtnl-losses-march-2018

The first blow which MTNL has received is a total reduction in income, which points towards negative growth. Thanks to the cutthroat competition in the industry, MTNL has registered negative numbers. Speaking of numbers, MTNL’s total income on a standalone basis has declined by 31.4% and is now down to Rs 660.02 crore as of last quarter of 2017-18 from Rs 963.12 crore posted in the corresponding quarter of 2016-17.

In the same observation period of this year the loss of MTNL on a standalone basis grew to reach the alarming figure of Rs 2,973.03 crore from Rs 2,941.08 crore it posted a year ago.