MTNL Q4 FY26 Results 2026: Loss Narrows, Sales Dip

Key takeaway from the March 2026 standalone numbers

Mahanagar Telephone Nigam (MTNL) reported a narrower standalone net loss for the quarter ended March 2026, alongside mixed signals on revenue depending on which line item is referenced in the financial summary. The quarter print matters because MTNL remains under financial stress and investors track any improvement in losses, cash flow and revival steps. The data provided shows losses compressing sharply versus the year-ago quarter, while full-year FY26 revenue fell.

At the same time, the broader market narrative around MTNL continues to revolve around restructuring efforts, including debt-related measures and plans linked to BSNL. MTNL is engaged in providing telecom services, and operational execution is frequently discussed in the context of its arrangements with BSNL.

Q4 FY26: net loss narrows year-on-year

For the quarter ended March 2026, MTNL’s net loss was reported at INR 306.95 crore. This compares with a net loss of INR 827.88 crore in the quarter ended March 2025, as stated in the data provided. The reduction in quarterly loss is one of the more notable improvements in the summary.

Separately, another data point in the same set references “Net Profit - Last Quarter” at INR -896.94 crore (last updated on Mar 13, 2026), and also notes Dec ’25 net profit of about INR -896 crore versus Sep ’25 net profit of about INR -960 crore. These figures indicate MTNL has continued to report losses across recent quarters, even as the scale of loss has fluctuated.

Q4 FY26: revenue figures show two reported lines

The revenue section includes two different values for the March 2026 quarter:

• A headline states standalone March 2026 net sales at INR 350.05 crore, up 129.54% year-on-year.
• Another line states sales rose 34.53% to INR 370.51 crore in the quarter ended March 2026, versus INR 275.42 crore in the quarter ended March 2025.

Because both figures appear in the provided text, they are presented as-reported. Readers should typically reconcile such differences by referring to the company’s detailed financial statement and the exact definition used for “net sales” versus “sales” in that source.

FY26 full-year performance: losses remain large, sales decline

For the year ended March 2026, MTNL reported a net loss of INR 3,107.25 crore, compared with a net loss of INR 3,327.69 crore in the year ended March 2025. While the loss narrowed on a year-on-year basis, it remained substantial.

On revenue, sales declined 15.34% to INR 956.37 crore in FY26, compared with INR 1,129.61 crore in FY25. The contraction in annual revenue, despite some quarter-level improvement shown in the summary, highlights ongoing pressure on the business.

What the market is watching: May 2026 result timeline and estimates

The dataset also includes a preview-style note saying MTNL Q4 results for FY26 are expected in May 2026, and that the exact board meeting date would be communicated through a BSE/NSE exchange filing. Alongside that, a table of “key estimates” pegs Q4 FY26 revenue at around INR 1,050 crore and estimated PAT at around INR -35 crore, with an EBITDA margin estimate at 0.0% and “improvement expected.”

This preview section also mentions Q3 FY26 actual revenue of INR 1,120 crore and PAT of INR -45 crore as the base for comparisons. As these are presented as estimates and expectations in the provided text, they should be treated as market assumptions rather than confirmed results.

Stock and valuation snapshots mentioned in the data

Price and market-cap snapshots in the provided text vary by date and source. One section states MTNL is trading near INR 42 with an approximate market capitalisation of INR 2,650 crore. Another update says MTNL was at INR 31.92 (as of 05/02/2026, 10:51 AM) with a market cap of INR 2,037.40 crore, and lists PE of -0.57 and PB of -457.33.

A separate market update notes that MTNL’s Q1 FY26 revenue dropped to INR 66 crore, operating loss widened to INR 186 crore, and net loss widened to INR 943 crore. It also mentions shares fell 2.3% to INR 42.21, with the stock down 31% year-on-year and 19% month-on-month at the time of that update.

Restructuring and operational context flagged in the summary

The provided summary states that management continues to pursue revival through debt restructuring, asset monetization, and merger with BSNL. It also points to operational challenges due to the SLA with BSNL, alongside government-led restructuring efforts.

These factors are central to how investors interpret MTNL’s quarterly numbers because they shape the company’s ability to stabilise operations and manage liabilities. However, the dataset does not provide quantified progress on each initiative, so the impact cannot be measured here beyond what is stated.

Market impact: what the reported numbers imply

The March 2026 quarter loss number of INR 306.95 crore, compared with INR 827.88 crore in the March 2025 quarter (as stated), suggests a significant year-on-year improvement in reported losses for that quarter. For FY26, sales fell to INR 956.37 crore and the net loss stood at INR 3,107.25 crore, showing that MTNL remains loss-making despite some narrowing versus FY25.

Separately, the dataset includes the headline “MTNL Soars 19% on Government Bond Guarantee.” With no additional details provided on timing or mechanics, it can only be noted as a reported market move connected to a government bond guarantee reference in the text.

Key numbers at a glance

Conclusion

MTNL’s standalone numbers in the provided summary show a sharp narrowing of the March 2026 quarter loss, while FY26 sales declined and annual losses remained large. Market focus, as reflected in the same dataset, remains on the company’s restructuring path and any formal updates around the board meeting and result communication via stock exchange filings in May 2026.