Mahanagar Telephone Nigam Limited (MTNL) has reported a 41.6 per cent decline in its net losses from Rs 12.56 billion for the quarter ended June 2013 to Rs 7.33 billion for the corresponding quarter in 2014. Meanwhile, its total income from operations declined from Rs 8.83 billion to Rs 8.56 billion during the same period.
The decline in losses occurred on account of the reduction in its total expenses, which decreased by 31.5 per cent, from Rs 18.7 billion in June 2013 to Rs 12.8 billion in June 2014. However, finance costs increased from Rs 3.2 billion to Rs 3.62 billion during the same period.
MTNL continues to generate majority of its revenues from basic (Fixed-line) services. The revenue from these services declined from Rs 6.74 billion in the quarter ended June 2013 to Rs 6.7 billion in the same quarter for the 2014. Further, the revenue from cellular services also declined from Rs 2.15 billion to Rs 1.89 billion during the same period.
