MTNL Q3 loss widens to Rs 1065 crore, revenue dips 14% to Rs 624 crore

State-owned MTNL on Friday said its consolidated loss widened to Rs 1,065.32 crore in the third quarter ended December 31.

The company has posted a net loss of Rs 830.89 crore in the same period a year ago.

The total revenue of MTNL declined by about 14 per cent to Rs 624.9 crore during the reported quarter, compared to Rs 723.63 crore in the same quarter of 2018-19, the company said in a BSE filing.

However, employees cost of MTNL during the reported period stood at Rs 755.48 crore.

During the quarter, 14,387 employees opted for voluntary retirement scheme and the expenditure of ex-gratia on account of compensation will be borne by the government through budgetary support.