MTNL Posts Q4 Net Loss of Rs. 595 Crores Over Increased Expenditure
State-run telecom firm MTNL on Saturday reported a standalone net loss of Rs. 595.11 crores for the quarter ended March 31, due to sharp rise in expenditure.
Its net profit stood at Rs. 9,600.34 crores in the year-ago period as the company had an exceptional income of Rs. 10,216.05 crores.
However, income from operations increased to Rs. 876.42 crores during January-March quarter of 2014-15 fiscal against Rs. 841.73 crores in the corresponding period of the previous year, the company said in a BSE filing.
MTNL’s total expenses increased sharply to Rs. 1,418.62 crores during the fourth quarter of last fiscal from Rs. 759.80 crores in the same quarter in 2013-14 fiscal.
For the entire 2014-15 fiscal, MTNL posted a net loss of Rs. 2,893.39 crores. In the previous year, the company had clocked a net profit of Rs. 7,825.13 in the previous year.
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However, income from operations rose slightly to Rs. 3,400.08 crores in 2014-15 from Rs. 3,391.73 crores in the previous year.
MTNL last month said it is introducing unlimited free local calling at night for its landline and broadband customers to any network, effective May 1.
“MTNL has decided to introduce unlimited free local calling for its landline and broadband customers (combo) between 10pm and 7am to any network. The free unlimited calling facility is also available for Delhi MTNL landline customers to any network to Mumbai and vice versa during the same hours,” it said in a statement.