The Mahanagar Telephone Nigam Limited (MTNL) has reported narrowing of its consolidated loss to Rs 6.53 billion for the quarter ended (QE) June 30, 2022. The company had posted a loss of Rs 6.89 billion in the same period a year ago.
Meanwhile, the consolidated revenue from operations fell by about 17 per cent to Rs 2.51 billion for the reported quarter. The operator had posted consolidated revenue from operations of Rs 3.01 billion for the same period a year ago.
Besides, in a note, auditors of MTNL mentioned that the company’s net worth has been fully eroded. The note further mentioned that the Department of Public Enterprises has declared the company as an incipient sick central public sector enterprise and that the same has been confirmed by the Department of Telecommunications (DoT).
