Mahanagar Telephone Nigam Limited (MTNL) is by far the smallest telephone company in the country today. Even the government doesn’t have much hope for this state-run telecom company. The hub is solely focused on BSNL (Bharat Sanchar Nigam Limited), which is expected to launch local 4G services soon. BSNL is expected to roll out 4G in the next 18-24 months across India. Auditors of MTNL’s financial reports believe that the company’s net worth has completely eroded. In fact, according to a PTI report, the Department of Public Enterprises has declared MTNL as a nascent sick central public sector company, and the Department of Telecommunications (DoT) has confirmed the same.
MTNL loss narrows in June 2022 quarter
MTNL’s loss narrowed in the quarter of June 2022. From a loss of 688.69 crore in the same quarter the previous year, the loss narrowed to Rs 653 crore. However, revenue from operations also fell by 17% to Rs 250.72 crore. In the same quarter of the previous year, MTNL’s operating revenue was Rs 301.15 crore.
Ashwini Vaishnaw, in a statement he made recently, said that MTNL has no future. It is a strong statement and most seals the fate of the company as the words come from the telecommunications minister.
Vaishnaw had also asked BSNL employees to abandon the “Sarkari Attitude” and work hard to improve the situation of BSNL. The minister had specified that people who do not work will be forced to take early retirement. The government is quite serious about BSNL’s future prospects and does not want to let the Rs 1.64 lakh crore stimulus package go to waste. The Minister instructed BSNL to focus on resolving customer issues quickly and also try to reach the 200 million customer figure as soon as possible.