COMPLIANCE OF REGULATION 33 & 52 OF THE SEBI (LODR) REGULATIONS, 2015 & SEBI CIRCULAR NO SEBI/HO/CFD/CFD-POD-2/CIR/P/2024/185 DTD. 31.12.2024: INTEGRATED FILING (FINANCIAL) INCLUDING UN-AUDITED REVIEWED FINANCIAL RESULTS ALONG WITH LIMITED REVIEW REPORT FOR THE QUARTER ENDED ON 30TH JUNE, 2025 & RELEVANT ANNEXURES
MTNL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MTNL reported a standalone loss of Rs 941.03 Crore in Q1 FY26, widening from Rs 771.82 Crore loss in Q1 FY25. Revenue from operations crashed to Rs 51.66 Crore from Rs 169.40 Crore YoY (a ~69% drop), largely because telecom operations in Delhi and Mumbai are now run by BSNL under a new Service Level Agreement effective January 1, 2025, and that revenue is no longer recognized by MTNL. Finance cost remains a massive Rs 754.33 Crore, and net worth is deeply negative at Rs (27,864.98) Crore. The statutory auditors (OP Bagla & Co LLP and S.L. Chhajed & Co LLP) issued an Adverse Conclusion on the results, noting multiple unresolved issues including pending tax disputes, GPF reconciliation, and unquantified impacts.
This is a deeply negative filing. The loss has worsened, revenue has collapsed post-BSNL SLA, bank loans of Rs 2,659 Crore are now NPAs, and the auditor issued an adverse opinion rather than a routine qualified one. However, the Government of India has approved a revival plan involving sovereign guarantee bonds, asset monetization, and an in-principle merger with BSNL, and management continues to prepare accounts on a going concern basis citing majority government stake. Stock price reaction is likely negative, though existing investors may already be pricing in the company's distressed status.