MTNL Q3FY23 loss widens further, appoints Sultan Ahmed as CFO

NEW DELHI: State-run Mahanagar Telephone Nigam Limited (MTNL) posted a consolidated net loss of Rs 775.50 crore in Q3 FY23, up from Rs 659.28 crore in Q3 FY22.

MTNL’s total expense increased 5.04% year-over-year to Rs 1,130.18 crore in the December quarter, while license fees (LF) and spectrum charges were Rs 21.77 crore (down 26.3% year over year), employee benefit expense was down by 6.3% year over year to Rs 129.82 crore, and finance cost was up 7.2% year over year to Rs 592.24 crore.