Mahanagar Telephone Nigam (MTNL) reduced its net loss for the March quarter by 30% year-on-year, to Rs 1099.5 crore, helped by a steep reduction in its wage bill. Chairman and managing director Guldeep Singh told CNBC-TV18 that the company would have reported a profit, were it not for the retirement provisions.
However, the state-owned telecom firm continues to grapple with weak topline growth and high interest burden.
On the positive side, the company lowered its wage bill by Rs 264 crore to Rs 1704 crore.
Singh says MTNL
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