Hike Net Loss

State-owned MTNL on Wednesday posted a widening of consolidated loss at Rs 775.5 crore in the third quarter ended on December 31, 2022. The company had posted a loss of Rs 659.28 crore in the year-ago period. The consolidated revenue from operations of MTNL dropped by 25 per cent to Rs 227.41 crore during the quarter under review from Rs 303.56 crore in the December 2021 quarter. The finance cost of the company increased by 7 per cent to Rs 592.24 crore in the October-December 2022 quarter as against Rs 552.43 crore in the corresponding quarter of 2021.

State-owned Bharat Heavy Electricals Limited (BHEL) on Thursday reported narrowing of its consolidated net loss to Rs 187.99 crore for the quarter ended June 30, 2022. The consolidated net loss of the company stood at Rs 448.20 crore in the year-ago period, according to a regulatory filing. Its total income from operations was at Rs 4,742.28 crore in the first quarter of the current fiscal, compared to Rs 2,966.77 crore in Q1 FY22. Expenses were at Rs 5,006.50 crore as against Rs 3,572.12 crore earlier.

Rural focussed micro-lender Spandana Sphoorty Financial on Thursday reported a net loss of Rs 220 crore for the quarter ended June 2022, mainly on account of a one-time write-off.

The company competes with the likes of WhatsApp and WeChat