State-run telecom firm MTNL reported widening of its loss to Rs 859 crore on standalone basis in the quarter ended September 30, 2018, mainly on account of increase in finance cost and decline in sales.
The debt-ridden firm had posted a loss of Rs 730.64 crore in the same period a year ago.
The finance cost of the company during the period under review increased to Rs 422.72 crore from Rs 366.22 crore.
MTNL has debt of around Rs 19,000 crore.
The total income of the company declined by about 21 percent to Rs 621.26 crore in the reported quarter from Rs 791.1 crore in July-September 2017 quarter.
MTNL’s revenue from operations declined by about one-third to Rs 444.12 crore during the second quarter from Rs 642.23 crore in the corresponding quarter of 2017-18.
The employee cost accounted for 92.2 percent of total income of the company and around 29 percent more than its revenue from operations at Rs 572.83 crore.
Reported Standalone quarterly numbers for Mahanagar Telephone Nigam are:
- Net Sales at Rs 444.12 crore in September 2018 down 30.85% from Rs. 642.23 crore in September 2017.
- Quarterly Net Loss at Rs. 859.05 crore in September 2018 down 17.58% from Rs. 730.64 crore in September 2017.
- EBITDA stands negative at Rs. 190.28 crore in September 2018 down 94.72% from Rs. 97.72 crore in September 2017.
MTNL shares closed at 13.75 on November 14, 2018 (NSE) and has given -18.15% returns over the last 6 months and -38.34% over the last 12 months. – Money Control