MTNL Q3 FY 21 losses zoom to Rs 637.78 crore

State owned Mahanagar Telephone Nigam Limited (MTNL) today announced the consoldiated financial results for the quarter ending December 31, 2020. MTNL’s Q3 FY 21 losses mounted to Rs 637.78 crore, up from Rs 582.25 crore in the trailing quarter.

MTNL’s income in Q3 FY 21 stood at Rs 471.41 crore, down from Rs 458.28 crore in the trailing quarter. The expenses for the quarter stood at Rs 1,109.29 crore, up from Rs 1,040.91 crore. MTNL raised Rs 6500 crore non-convertible debentures based on a sovereign guarantee given by the Government of India during the quarter.

MTNL’s revenue from cellular services stood at Rs 61.56 crore in Q3 FY 21, up from Rs 45.18 crore in the trailing quarter whereas revenue from basic and other services stood at Rs 299.3 crore in Q3 FY 21, up from Rs 297.4 crore in the trailing quarter.

The cellular service business had a loss of Rs 126.22 crore in Q3 FY 21, up from Rs 111.36 crore loss in the trailing quarter. The revenue from basic and other services had a profit of Rs 42.61 crore in Q3 FY 21, up from Rs 34.45 crore in the trailing quarter.