Mahanagar Telephone Nigam (MTNL) reported consolidated net loss of Rs 775.50 crore in Q3 FY23, higher than net loss of Rs 659.28 crore in Q3 FY22.
Net sales declined 25.1% to Rs 227.41 crore in Q3 FY23 as against Rs 303.56 crore in Q3 FY22.Total expense rose 5.04% year on year to Rs 1,130.18 crore in Q3 FY23. License fees and spectrum charges stood at Rs 21.77 crore (down 26.3% YoY), employee benefit expense was at Rs 129.82 crore (down 6.3% YoY) and finance cost stood at Rs 592.24 crore (up 7.2% YoY).
Meanwhile, the company's board has approved the appointment of Sultan Ahmed as chief financial officer & key magangerial personnel with immediate effect. He has worked in MTNL Mumbai, Delhi and CFO to UTL Nepal. He has experience in the telecom industry for more than 27 years. He is a director on the board of MTL which is a fully owned subsidiary of MTNL.
Mahanagar Telephone Nigam is engaged in providing telecom services in the geographical area of Mumbai and Delhi.
The scrip rose 0.23% to Rs 21.75 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app