MTNL Defaults On Over Rs 8,300 Crore In Loans With Multiple Banks
Mahanagar Telephone Nigam Ltd. defaulted on over Rs 8,300 crore loans with several banks, according to an exchange filing on Saturday.
The company failed to repay the dues to Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.
In March, the troubled telecom operator defaulted on principal and interest payments to several banks. The total outstanding principal payment is Rs 7,794.34 crore, and the interest amount due is Rs 482.97 crore.
It defaulted principal and interest payments to Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.
Q3 Performance
MTNL's revenue decreased by 2.4% to Rs 170.07 crore quarter on quarter for fiscal 2025 from Rs 174.23 crore.
The company recorded an Ebitda loss of Rs 128.08 crore, which widened compared to Rs 119.29 crore in the prior quarter. It posted a loss of Rs 836.07 crore, narrowing from the Rs 890.28 crore loss reported earlier.
Shares of MTNL closed 0.41% lower at Rs 43.80 apiece on the National Stock Exchange, compared to a 1.77% rise in the benchmark Nifty 50. The stock has risen 24.96% the last 12 months while it declined by 13.01% on a year-to-date basis.
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