MTNL shares trend high over 16% amid asset monetization of Rs 2135 crore

New Delhi, March 13, 2024: State-owned Mahanagar Telephone Nigam Ltd. (MTNL) Shares are trading high over 16 percent on Thursday, March 13. The stock hit a day's high of Rs 51.18 today. At this price, the stock has gained 50% in the last one year.

The debt-ridden firm was declared a Non-Performing Asset by most state-run lenders in October 2024. The sharp rise came amid the company's earnings of Rs 2,134.61 crore from the monetisation of land and building assets.

Recently, the PSU telecom companies BSNL and MTNL have generated total revenue of Rs 12,984.86 crore through the monetisation of assets, including land, buildings, towers, and fiber, since 2019.

As per the data, BSNL has earned Rs 2,387.82 crore from asset monetisation.

Read Also : Govt Backed GNFC signs contract with for 2,00,000-MTPA nitric acid plant

MTNL Q3FY25 Financial performance:

MTNL posted a net loss of Rs 836 crore for the third quarter of FY25, compared to a loss of Rs 839 crore in the corresponding period of last year.

The company's revenue fell 11.6 percent year-on-year to Rs 170 crore, down from Rs 192.2 crore in Q3 FY24, reflecting ongoing challenges in the telecom sector.

Shares of the telecom sector are trading over 12 percent high at Rs 48.57.

Read Also : World TB Day Celebrated at SECL with Various Awareness Programs