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State-owned Mahanagar Telephone Nigam Ltd (MTNL) today reported widening of losses for the quarter ended June 30, 2018 to ₹ 943.3 crore.
The losses stood at ₹ 703.1 crore in the corresponding period of 2017-18, according to MTNL’s regulatory filing.
A household telephony brand in the 90s and early 2000, MTNL’s revenue and profitability have come under tremendous pressure with intensified competition in mobile and landline telephony services.
The PSU which operates in the service areas of Mumbai and Delhi garnered ₹ 492.3 crore in revenue from operations during June quarter, 25 per cent lower than ₹ 657.2 crore notched in the year-ago period.
At ₹1,551.13 crore, its expenses for the quarter were a tad higher compared to the year-ago period.
MTNL scrip closed at ₹ 15.45 a share on BSE, about 0.64 per cent lower than the previous closing.
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