MTNL Reports 36% Revenue Growth, Q4 FY26 Loss Narrows 63%

Mumbai: Mahanagar Telephone Nigam Limited (MTNL) reported audited standalone revenue from operations of Rs 350.1 crore for Q4 FY26, up 36 percent from Rs 258.0 crore in the corresponding quarter last year.

The company’s net loss narrowed to Rs 304.5 crore from Rs 827.2 crore a year earlier. Total income rose sharply to Rs 860.5 crore from Rs 310.7 crore, supported by higher other income and infrastructure-related earnings.

Sequentially, revenue increased 83 percent from Rs 191.3 crore in Q3 FY26, while losses reduced from Rs 898.4 crore.

Sequential And Annual Growth

MTNL’s Q4 FY26 expenses stood at Rs 1,165 crore compared with Rs 1,138 crore in Q4 FY25. Finance costs increased to Rs 738.1 crore from Rs 715.7 crore a year ago, while employee benefit expenses rose to Rs 154.2 crore.

Depreciation and amortisation expenses declined to Rs 136.4 crore from Rs 147.9 crore. The company recorded a pre-tax loss of Rs 304.5 crore against a loss of Rs 827.2 crore in the year-ago quarter.

On a sequential basis, total expenses increased from Rs 1,110 crore in Q3 FY26, but higher income helped reduce losses significantly.

What Drove The Numbers?

The company said infrastructure leasing emerged as a major contributor during the year after MTNL identified it as a separate operating segment from FY26. Infrastructure leasing revenue rose to Rs 151.0 crore in Q4 FY26 from Rs 105.5 crore a year earlier.

MTNL also booked Rs 410.5 crore profit from sale of properties during the quarter as part of its asset monetisation programme. Revenue share from customers migrated to BSNL under the service level agreement contributed Rs 156.5 crore during FY26.

Basic loss per share for Q4 FY26 stood at Rs 4.83 against Rs 13.13 in Q4 FY25.

Full-Year Performance

For FY26, MTNL reported revenue from operations of Rs 887.3 crore compared with Rs 1,061 crore in FY25. Net loss narrowed to Rs 3,103 crore from Rs 3,324 crore in the previous year.

Total income for FY26 stood at Rs 1,469 crore, while total expenses were Rs 4,572 crore. The company continued to face high debt obligations, with total outstanding qualified borrowings rising to Rs 27,117 crore at the end of FY26.

Auditor reports highlighted continued financial stress and loan repayment defaults during the year.

Disclaimer: This report is based on audited financial results filed by the company and does not constitute investment advice.