MTNL drops over 2% after Q4 net loss widens; down 12% in three months

MTNL slips in trade: Telecom operator Mahanagar Telephone Nigam Limited (MTNL) dropped as much as 2.31 per cent to an intraday low of Rs 37.09 per share.

The fall came after the company announced a weak set of March quarter of financial year 2024 (Q4FY24) results.

MTNL’s net loss widened to Rs 783.7 crore on a year-on-year (Y-o-Y) basis, from a net loss of Rs 748.6 crore in the fourth quarter of financial year 2023 (Q4FY23).

The New Delhi-based company’s topline (revenue) fell nearly 5 per cent to Rs 209 crore in the March quarter of FY24, from Rs 219.2 crore in the March quarter of FY23.