New Delhi: Mahanagar Telephone Nigam Limited (MTNL) has reported its audited financial results for the quarter and financial year ended March 31, 2026, showing continued losses but a marginal improvement in quarterly performance. The state-run telecom operator remains under severe financial stress, with negative net worth and ongoing restructuring efforts.
Q4 FY26 Performance: Loss Narrows Sequentially and Year-on-Year
For the quarter ended March 2026, MTNL reported a standalone net loss of ₹304.46 crore, showing improvement compared to both the previous quarter and the same period last year.
Key Q4 highlights include:
- Net loss: ₹304.46 crore
- vs ₹898.38 crore loss in Q3 FY26
- vs ₹827.22 crore loss in Q4 FY25
- Revenue from operations: ₹350.05 crore
- Total income: ₹860.50 crore
The improvement in quarterly loss reflects operational stabilization efforts, though revenue levels remain under pressure.
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Full Year FY26 Results: Loss Above ₹3,000 Crore
For the full financial year FY26, MTNL continued to report significant losses:
- Standalone net loss: ₹3,102.94 crore (vs ₹3,323.51 crore in FY25)
- Revenue from operations: ₹887.27 crore (vs ₹1,060.54 crore in FY25)
- Negative net worth: ₹29,974.84 crore
The persistent losses highlight structural challenges in the company’s legacy fixed-line and mobile operations.
Auditors Flag Going Concern Issues
The statutory auditors issued a modified opinion on MTNL’s financial statements, citing:
- Going concern uncertainty
- Reconciliation issues in financial balances
- Multiple qualifications in reporting
These observations underline the severity of MTNL’s financial and operational stress.
Leadership Changes: New CFO Appointed
As part of corporate restructuring, MTNL has announced key management changes:
- Vasudev Singh appointed as Chief Financial Officer (CFO) & KMP effective May 21, 2026
- He replaces Shri Anirudh Prasad Singh
Additionally, the company re-appointed M/s. R.M. Bansal & Co. as Cost Auditor for FY 2026–27.
Revival Strategy: BSNL Synergy and Asset Monetisation
MTNL continues to pursue multiple revival initiatives under government support, including:
- Service Level Agreement with Bharat Sanchar Nigam Limited (BSNL), effective January 1, 2025
- Monetisation of non-core assets
- Debt restructuring discussions
- Proposed long-term merger and integration roadmap with BSNL
These measures are aimed at stabilising operations and improving long-term viability.
Financial Stress Remains High
Despite revival efforts, MTNL continues to face:
- Fully eroded net worth
- High accumulated losses
- Weak revenue base
- Dependence on government-backed restructuring support
The company remains one of India’s most financially stressed public sector telecom operators.
About MTNL
Mahanagar Telephone Nigam Limited, a Government of India enterprise, provides telecommunication services across Delhi and Mumbai, including fixed-line, broadband, and enterprise solutions. Established in 1986, MTNL continues to serve millions of subscribers while adhering to regulatory standards and promoting transparency in corporate governance.
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