State-owned telecom firm MTNL on Monday reported narrowing of its standalone loss to ₹ 623.63 crore for the fourth quarter ended March 31, 2020, mainly on account of a reduction in headcount under the voluntary retirement scheme.
The company had posted a loss of ₹759.27 crore in the corresponding period a year ago.
During the quarter, 14,387 employees of MTNL opted for the voluntary retirement scheme.
MTNL’s total income declined 26.77 per cent to ₹518.79 crore in January-March 2020, compared with ₹708.5 crore in the year-ago period.
For the full financial year 2019-20, the firm’s losses widened to ₹3,693.72 crore as compared with ₹3,388.07 crore it recorded at the end of the previous financial year.
The company’s annual revenue during the financial year 2019-20 also dipped about 15 per cent to ₹2,316.58 crore, against ₹2,721.5 crore in 2018-19.