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MTNL reports a standalone net profit of Rs 1.75 billion for the quarter ended March 2016

May 31, 2016
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Mahanagar Telephone Nigam Limited (MTNL) has reported a standalone net profit of Rs 1.75 billion for the quarter ended March 2016, compared to a net loss of Rs 5.95 billion during the corresponding period in 2015. This was on account of the compensation of Rs 4.58 billion that the operator received from the government for surrendering its CDMA spectrum.

Meanwhile, the total revenues of the company declined from Rs 8.76 billion during the quarter ended March 2015 to Rs 8.36 billion during the quarter ended March 2016.

For the year ended March 2016, MTNL's standalone net loss narrowed to Rs 20.06 billion from Rs 28.93 billion for the year ended March 2015. The consolidated net loss also declined from Rs 29.01 billion to Rs 20.12 billion during the same period.

 
 
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