MTNL’s loss narrows in last quarter of 2019-20

State-owned telecom firm MTNL reported narrowing of its standalone loss to Rs. 623.63 crore for the fourth quarter ended March 31, 2020, mainly on account of a reduction in headcount under the voluntary retirement scheme.

The company had posted a loss of Rs. 759.27 crore in the corresponding period a year ago. For the full financial year 2019-20, the firm’s losses widened to Rs. 3,693.72 crore as compared with Rs. 3,388.07 crore it recorded at the end of the previous financial year.

The company’s annual revenue during the financial year 2019-20 also dipped about 15 per cent to Rs. 2,316.58 crore, against Rs. 2,721.5 crore in 2018-19.

(Indian PSU: All about Indian Public Sector Undertakings. Follow @IndianPSUs for all the News & Views on PSUs, Corporates, Markets, Bureaucracy, Public Policy)