MTNL's loss widens in Q3FY22 to Rs659.28cr; stock rebounds 3%

15 Feb 2022 , 01:09 PM

MTNL recovered from its early morning downfall and is currently trading at Rs25.30, up by 3.48% against its previous closing price of Rs24.45. Its stock touched lower levels of Rs23.05 so far in today’s trade.

MTNL reported a loss of Rs659.28 crore in Q3FY22 as against a loss of Rs637.78 crore in the previous corresponding quarter. The company’s consolidated revenue from operations witnessed a decline of 16% yoy to Rs303.56 crore as compared to Rs360.49 crore in the previous corresponding quarter.

MTNL’s YTD revenue for the period ended December 2021 stood at Rs755.81 crore as against Rs918.11 crore for the period ended December 2020.

Total loss for the 9M ended December 2021 stood at Rs2,004.51 crore against loss of Rs1,860.97 crore for Q3FY21.

MTNL has returned to operating profits after several years and work was underway to strengthen overall financials through allocation of 4G and 5G spectrum.